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Tax Free Income?
ffacoffipawb
Posts: 3,593 Forumite
The personal savings allowance is still classed as taxable income but the tax rate is 0%. The income still needs to be declared and is used to decide the type of taxpayer you are - basic, higher or additional.
Is this the same of the £5,000 dividend allowance. Do dividends under £5,000 pa in total need to be declared or not? The allowance does not seem to depend on class of taxpayer - basic, higher or additional.
Thanks
EDIT: Yes it needs to be declared and works in a similar way to the personal savings allowance ...
https://www.gov.uk/government/publications/dividend-allowance-factsheet/dividend-allowance-factsheet
Is this the same of the £5,000 dividend allowance. Do dividends under £5,000 pa in total need to be declared or not? The allowance does not seem to depend on class of taxpayer - basic, higher or additional.
Thanks
EDIT: Yes it needs to be declared and works in a similar way to the personal savings allowance ...
https://www.gov.uk/government/publications/dividend-allowance-factsheet/dividend-allowance-factsheet
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