tax credit on shares

moneylover

Mum in law died recently and am just filling in a tax form. It asks for dividends and tax credit on shares. I know the net amount for each share dividend paid into her bank account since April but am not 100% sure how to work out the tax credit and don't want to ring the share registrars unnecessarily. I think its 10% taken off before the dividend is paid. Is that right? In which case if she was paid a dividend of, say, £40 the tax credit would be £4?
Many thanks

zygurat789

No the tax credit is 10% of the grossed up figure.
Or 11.11% of the net (1/9th if you prefer)
Net £40.00 TC £4.44

moneylover

zygurat789 wrote: »

No the tax credit is 10% of the grossed up figure.
Or 11.11% of the net (1/9th if you prefer)
Net £40.00 TC £4.44

I had a feeling I wasnt on right track but couldnt get to it myself - so to be clear - if the amount of divi paid in bank is, say, £40 then the tax credit is 1/9th of £40?
Many thanks

Jake'sGran

The tax credit is always shown on the dividend slip but maybe she didn't keep them. I always keep mine just in case. I complete tax returns and in the past have left the tax column blank if I could not find the dividend slip. Seem to remember they ask for gross amount anyway. I am not sure Revenue mind if they have to work it out but it probably depends how many dividends there are without details.