Step 2: To enter in a payment against the invoice or backdate a payment, see the following article and change the "received date" to a date in the past.
Limited company contractors who have adopted a strategy of declaring dividends prior to April 2016 but who have not yet paid them out can still attract the dividend tax rates for tax year 2015/16, providing they can provide sufficient evidence to prove it was declared and payable before 6 April 2016.
If selected the option in the wizard in Microsoft Money to add the mortgage payment as a scheduled bill in the bills and deposits place, you'll see a number of entries listed which now need entering.
It is beneficial to enter these to generate all of your historical payments.
It does not have to be the same reason throughout the period.
You will be expected to explain your reasons fully and give us evidence to support what you tell us.
“If no date is given, the date that the dividend is deemed to be taxable is the date that the resolution was made.” As such, contractors who have unpaid dividends that were declared prior to the turn of the tax year can legitimately claim them without incurring the higher dividend tax rates that came into effect on 6 April 2016.
However, Strike adds that, unless the contractor has all of their paperwork in order, there is always the risk that the taxman will take an alternate view.
Standard backdating An initial claim can be backdated if the circumstances entitling the person to tax credits have subsisted for the period of the backdating.
“If you declare a dividend but forget to prepare a resolution, there’s absolutely nothing wrong with preparing a resolution at a later date.
'Working age' customers are people who are under the qualifying age for State Pension Credit.
In all cases you must have good reason for not claiming sooner, throughout the period that you are requesting backdating for.
It is up to you to show that you had good reason throughout the whole period.