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Posted Fri, 08 Dec 2023 16:39:23 GMT by Keviniu
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

The correct calculation will be calculation 2. 

Thank you

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