Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Fri, 08 Dec 2023 16:39:23 GMT by
Hi, Given that 12570 personal allowance, 5000 start rate of saving, 1000 saving allowance, 1000 dividend allowance If the salary is 12570, the interests is 8000, the dividend is 10000, is it still ok to use the start rate of saving? Calculation 1: the tax will be 8000-5000-1000=2000 (interests) x 20% + 9000 (dividend) x 8.75% Calculation 2: cannot enjoy the start rate of saving, tax = 8000-1000=7000 (interests)x20% + 9000(dividend)x8.75% Which one is correct one?
Posted Thu, 14 Dec 2023 12:35:05 GMT by HMRC Admin 5 Response
Hi

The correct calculation will be calculation 2. 

Thank you
Posted Thu, 09 May 2024 12:17:52 GMT by Gj
Excuse me, may i know why 5000 starting rate of saving is not included in calculation 2? The salary is 12570 and i expect there will be 5000 starting rate of saving for saving interest.
Posted Wed, 15 May 2024 11:13:35 GMT by HMRC Admin 20 Response
Hi Gj,
You will need to contact HMRC to review the calculation Self Assessment: general enquiries
Thank you.

 

You must be signed in to post in this forum.