Readers’ forum: To deed or not to deed?

One of my clients is intending to waive a dividend. I am satisfied that entitlement has not yet arisen and I am confident of the tax analysis.

My understanding is that strictly a dividend waiver must be effected by a deed because a contract requires consideration and there is no consideration for a waiver. I also understand that to be valid a deed must be prepared by a lawyer.

I assume that I cannot prepare the document and give it to the client for signature but could I write a letter to the client along the lines of ‘here is some wording to use if you are considering waiving a dividend’? I am sure that in the past many non-lawyer advisers will have prepared waivers for their clients to sign.

Has anybody any experience of this creating problems such as HMRC challenging...