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How to record a dividend

 

Dividends are payments made to company shareholders from the profits of the company after corporation tax. Dividends are the most tax efficient way to take your income after you have exceeded the National Insurance salary threshold.

This article will help you know how much you could take as a dividend.

If you know how much you want to take, start by navigating to the "Pay Yourself" tab and then the “Dividends” subtab underneath, then select “New Dividend” as shown below:

On the "New Dividend" page, start by entering the date of your dividend. Crunch will automatically calculate the maximum dividend available on that date, based on income, expenses, corporation tax etc.

Next, enter the amount of dividend you wish to take. The "Dividend breakdown" will appear, displaying the dividend amount for each shareholder, based on their number of shares on the date entered.

If you only wish to issue dividends and not create the withdrawals, you can now click "Save" to record your dividends in the Crunch app.

However, if a director has already withdrawn their dividend from the bank, you can quickly create director withdrawals here by clicking the relevant "Create withdrawal" checkbox:

Clicking any of these checkboxes will populate the optional "Director withdrawals" section of the form.

Here you simply have to enter the payment details of each withdrawal or use the "Same withdrawal details for all director withdrawals" to specify that all director

withdrawals used the same payment details.

Whichever you choose, a director withdrawal will be created when you click "Save", for each of the directors which had the "Create withdrawal" checkbox ticked.

Once you click "Save" you will be taken to a list of the dividend vouchers you have just created, with the option to download and/or email them to the relevant shareholder.

 

 

Last Updated: 12 Apr 2019 02:22PM BST
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