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Is it necessary to report the income paid to shareholders/directors of a limited company?

Is it necessary to report the income paid to shareholders/directors of a limited company?

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Damon
 

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You need not report dividends paid to shareholders of a limited company because dividends are not taxable. On the other hand, salaries and directors' fees received by directors are chargeable to Salaries Tax and should therefore be reported by means of form IR56B.

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Clair
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