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Posted Wed, 13 Nov 2024 18:01:38 GMT by Maria10
I file a Self assesment every year and I would like to confirm how to calculate my total taxable income, please. As I understand it, the formula is: Taxable Income formula = Gross Total Income - Total exemptions - Total deductions I have received dividends from foreign companies (over the £1000 gross allowance). Will the gross dividends figure be part of the Gross Total Income to calculate the Taxable Income? I have already paid 10% tax in Spain for the dividends. Thanks
Posted Mon, 18 Nov 2024 10:17:56 GMT by HMRC Admin 8 Response
Hi,
As your calcualtion involves foreign dividend income, we may need to confirm more information to correctly answer your query.
Contact us by webchat or phone via:
Income Tax: general enquiries to allow us to do this.
Thank you.

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