You may get a dividend payment if you own shares in a company.
You don’t pay tax on the first £5,000 of dividends you get in the tax year (from 6 April to 5 April the following year).
Above this allowance the tax you pay depends on which Income Tax band you’re in. Add your income from dividends to your other taxable income when working this out. You may pay tax at more than one rate.
The rules are different for dividends from tax years before April 2016.
|Tax Band||Tax rate on dividends over £5,000|
If you have any tax queries, please contact a financial advisor for advice.
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Rupert Bondy +44 (0) 1753 217800