Paul Borrett
Joined: 10/30/2024
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Foreign dividends and allowances
In 2023/24 I received dividends in the US for shares held there totalling around £5000 after currency conversion, with approximately £750 of this retained as US withholding tax. Does the £5000 qualify towards the £1000 dividend allowance? Should only be liable for UK tax on the total dividend, minus the allowance, minus the US withholding tax? E.g. £5000 - £1000 - £750 =£3,250.00?