likely issues with HMRC

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a client wishes to restate their 2014 accounts although there will be no change in corporation tax payable as a result, there will be a rise in dividends declared and therefore possibly a rise in income tax on the divs (the shareholders are higher rate payers).

Companies House take everything at face value so will file the amended accounts NQA, however is there likely to be any repercussions from HMRCs point of view in resubmitting a CT600?

[bd6759]

If the restated accounts increase the amount of distributable reserves, any dividend declared from those reserves will be taxable when it is declared.