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pdawson1985
November 4, 2019
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Dividends income

  • November 4, 2019
  • 1 reply
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Hi,

I am self-employed, and receive dividends from a LTD company. How do I input the dividends received on my self-emplyed account? At the moment I can only enter them as 'business income', as there is no 'dividends received' option. However, the income tax rate will obviously be applied to that income, as opposed to the dividend tax rate.

Many thanks

Pete

Best answer by JaneD

Hi Pete,

 

If you categorize the dividend under business income, it will affect the calculation of your estimated taxes. In this case, exclude it in QuickBooks Self-Employed (QBSE).

 

Here's how:

  1. Sign in to QBSE.
  2. From the Transactions page, select all the dividend income transaction.
  3. Once done, click on Exclude.

For the detailed steps, refer to this article: Exclude or delete transactions.

 

Then, contact HMRC or an accountant for further guidance in reporting the dividends.

 

Let me share these article for future reference:

If you have any follow-ups or other concerns, please let me know by leaving a comment below. I'll be here to keep helping. Have a great day.

1 reply

JaneD
JaneDAnswer
November 4, 2019

Hi Pete,

 

If you categorize the dividend under business income, it will affect the calculation of your estimated taxes. In this case, exclude it in QuickBooks Self-Employed (QBSE).

 

Here's how:

  1. Sign in to QBSE.
  2. From the Transactions page, select all the dividend income transaction.
  3. Once done, click on Exclude.

For the detailed steps, refer to this article: Exclude or delete transactions.

 

Then, contact HMRC or an accountant for further guidance in reporting the dividends.

 

Let me share these article for future reference:

If you have any follow-ups or other concerns, please let me know by leaving a comment below. I'll be here to keep helping. Have a great day.

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