I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Thanks reply ..but...although that may be in simple terms to you its not clear to me. please try again .
I used commercialy available and hmrc approved software . All i did was punch in the required data. the software calculated the corporation tax due and submitted this to HMRC.which I thn paid. I also received a self assessment tax return from HMRC which I completed .On the self assessment return a put down the business dividend which had been paid to me . I put this down as income.I have then been charged tax on this amount. Surely this is paying twice on the same amount.
I understand your examplw it is similiar to the payment demand I received from HMRC.( I think your example is showing self assessment.) I believe my error is earlier than this... go back to Corporation tax.Should I have include the dividend as part of the companies expenditure/costs .....rather than as part of the profit after expenditure/costs.
then my corporation tax returns are correct....however.
In your example you show " total from all employments " is 10,000
then " dividends from companies " as 10,000
(forget the interest of 500
thus giving a total income of 20,000
but in my case I dont have any other income other than the dividend.
Richard, I was giving you an example...Showing how tax is calculated ..Your tax would be calculated based on what income you had including dividends but dividends carry a tax credit of 10%I hope this is helpful.
So nearly there. ...please be patient. So in my case assessement there should be no figure in the " total from employment " column. Is that correct.
Ok....thanks....then this would appear to be my mistake.. .I will check my kadt three returns and get back to you. If this is the case how do I claim the overpaid tax back.?
If you are happy and there are no more issues I will appreciate if you would kindly rate/accept the service I provided to ensure I get credited .