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IR4 Question 41 Shareholder details—see also the IR4S

Complete Question 41 if shareholders, directors and relatives of shareholders received remuneration or a loan. Remuneration is liable for ACC levies.

Shareholders’ salaries

Write all remuneration with no PAYE deducted that the company paid to that person in Box 41B.

For the company to claim a deduction for shareholder remuneration it must be paid either:

  • during the income year, or

  • within the time allowed for the company to file its return.

If the remuneration isn’t paid in time, the deduction can’t be claimed until the following year.

Over-payments of AIM provisional tax that relate to shareholder employee salary accruals are allowed to be used to meet the shareholder’s tax liability on that salary at the end of the income year. Record details of any AIM tax credits transferred to each shareholder at Box 41C.

Loss offsets and subvention payments

Record details of any losses claimed or transferred from or to each group member at Box 41F.

Record details of any subvention payments claimed or transferred from or to each group member at Box 41G.

The total of Boxes 41F must be recorded at Box 29. The total of Boxes 41G must be recorded at Box 29A.

Current account balance

If the shareholder’s current account balance has been overdrawn, (that is, the shareholder owes the company money) then it is a debit balance.

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