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Posted Mon, 30 Sep 2024 11:42:36 GMT by Iandastewart
I need some help. I'm trying to calculate my wife's tax due on her savings and dividend payments. Am I right in this calculation. Personal Allowance 12570 + transfer of marriage allowance 1260 Total tax free 13830 Less state pension 8494 + personal pension3967.44 Total tax free surplus 1368.56 Savings allowance 1000+ 5000 additional + surplus tax free Total allowance 7368.56 Total savings interest 13089.37 minus allowance 7368.56 = 5720.81 ×20% =1144.16 tax to pay. Dividend payments Total 6988.24 less 1000 allowance 5988.24 x8.75% = 523.97 tax to pay. Total tax 1668.13. Is this correct.
Posted Mon, 07 Oct 2024 11:46:36 GMT by HMRC Admin 33
Hi,
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
You may wish to contact our team for advice
Self Assessment: general enquiries
Alternatively you may want to seek professional advice.
Thank you.

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