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Posted Sat, 26 Aug 2023 11:00:53 GMT by
Hi, I am looking at my income and dividends and trying to figure out how it all works. There are several websites like those listed below that allow you to put in your earnings and dividends and they give you what is expected and this is fine, except that my calculations differ with some of their calculations. https://www.which.co.uk/money/tax/income-tax/income-tax-on-savings-and-investments/dividend-tax-acgkH1d52i7d Working on income tax and the calculations pertaining to it is very clear, however those for dividends are not. Does HMRC have a dividend tax calculator as it does for income tax? Apologies in advance for asking to check my work but can you tell me where I am going wrong below as well. income: 105,000 dividend: 25,000 total: 130,000 - so all of the personal allowance is lost dividend allowance: 1,000 taxable dividend: 24,000 20,140 * %33.75 = 6,797.25 3,860 * %39.35 = 1,518.91 total expected dividend tax = 8,316.16 All of the websites I have used all say the expected dividend tax is 8,372.16 Thanks in advance
Posted Thu, 31 Aug 2023 14:38:41 GMT by HMRC Admin 10 Response
Hi
The online calculator does not have an option to include dividends.
You are correct you would be entitled to the £1000 Dividend allowance.
Your calculation is correct.

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