Chapter 2 - 3.5 - Calculation of Income Tax on Dividend Income Flashcards
1
Q
What is the income tax rate 2023/2024 for dividend income for the BRB?
A
£0 - £37,700 = 8.75%
2
Q
What is the income tax rate 2023/2024 for dividend income for the HRB?
A
£37,701 - £125,140 = 33.75%
3
Q
What is the income tax rate 2023/2024 for dividend income for the ARB?
A
£125,140+ = 39.35%
4
Q
How is the first £1000 of dividend income taxed?
A
The first £1000 of dividend income for all taxpayers is taxed at the dividend nil rate (0%), but uses the basic and higher rate band. Any remaining income is taxed at the above rates
5
Q
A
