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Posted Tue, 03 May 2022 15:18:56 GMT by hsuwinson
Hi, I relies solely on dividend for living. If my annual dividend is 60K, after subtracting the personal income allowance and dividend allowance, are my remaining dividend taxed at basic rate, or part if it will be taxed at higher rate? In other words, will dividend raise my income tax band to above basic rate, if i am a retired person who has zero income from work. Thanks!
Posted Wed, 04 May 2022 14:28:05 GMT by HMRC Admin 17

Hi,
 
Please see the following link regarding Income Tax rates and bands, if part of your Dividend income would put you into the Higher Rate threshold,
you would pay some tax at 33.75% :

Income Tax rates and Personal Allowances   and :

Tax on dividends   .

Thank you.

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