Dividend payment dates

[_dobbo_]

When I'm declaring dividends for the purpose of self assessment returns, my tax vouchers show three dates - for example:

In respect of the year ended 31st December 2005
Registered on 31st December 2005
Payable 7th April 2006

So does that go against my 2005 or 2006 return? Does it go by the registered date or the payable date? I'm hoping payable or I'm due a fine!

[percy flage]

Payable.

[_dobbo_]

Thanks! This Self Assesment malarky is all new to me, and if I've worked it out correctly I owe Gordon Brown quite a lot of cash.

[Eric Mc]

As Percy sas, for Self Assessment tax returns purposes, the date the dividend is "payable" is the key date.

The dividend you received with a payable date of 7 April 2006 falls in the 2006/07 tax year (just) so can be ignored when completing your 2005/06 tax return.

[_dobbo_]

Eric Mc said:

As Percy sas, for Self Assessment tax returns purposes, the date the dividend is "payable" is the key date.

The dividend you received with a payable date of 7 April 2006 falls in the 2006/07 tax year (just) so can be ignored when completing your 2005/06 tax return.

Cheers Eric. Upshot is that I owe a fair bit this year, and will owe a fair bit more next year... Still, can't complain really, it's nice to be earning enough to have to worry about the higher rate tax band on Dividends.

That being said, paying my 2006 bill is going to hurt my pocket a bit, buying the TVR looks like it will have to wait till next year