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Genus PLC Dividend - Which nominal code
Posted: 30 Jan 2015, 17:43
by The Secretary
hi
Which nominal code and which tax code would I use for a Genus plc dividend payment received
Thank you
Re: Genus PLC Dividend - Which nominal code
Posted: 31 Jan 2015, 17:00
by brucedenney
Dividends are outside the scope of VAT so T9 would be the norm.
Where it would appear in the P&L is up to you and how you have arranged your P&L, in a typical format it would be in the 4000-4999 range.
Where it would go within that range is dependant on your circumstances.
If you make a substantial income from share investments, then you may break them down into sub sets, you might use a nominal coding to get the dividends in line, same order as, how the investments show in the balance sheet.
If it is incidental, it could go in misc income.
Where it goes depends on your view, your circumstances ...
You could ask your accountant, the business owner, or just make an account for investment income.
Re: Genus PLC Dividend - Which nominal code
Posted: 05 Feb 2015, 17:38
by The Secretary
Many thanks Bruce x