Moving Dividends to Salary

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1

Hi all,

I have a question about moving dividends to salary. I am filling my end of year taxes and have been advised to move some of my dividends over to salary. However when I look try and find the dividends for the 2021 - 2022 year I can’t find them to change the tagging across.

Could someone advise where there would be in Quickfile please and how I would move them across to salary please?

Many thanks

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Use journals , that will keep audit trail as well

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You can’t just change dividends to salary at the end of the tax year, unless you’ve been taking less than £6,396 salary for the year (£123 per week). If you take more than this you need to run a payroll scheme and submit RTIs on or before each pay date. Directors can choose to be paid annually, but the RTI still needs submitting on or before the annual payday.
Additionally, if you pay yourself more than £11,908, you would need to pay National Insurance.

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