Year | Annual Pay | Net Income | Basic Rate Pay | Higher Rate Pay | Additional Rate Pay |
---|---|---|---|---|---|
2022-2023 | |||||
2021-2022 | |||||
2020-2021 | |||||
2019-2020 | |||||
2018-2019 | |||||
2017-2018 | |||||
2016-2017 |
When you own a share in a company then you have to pay a Dividend Tax. Dividend tax is taken from the profit distributed among shareholders.
Each Year has different rates and thresholds, and you pay your Dividend Tax when your Income is over your yearly allowance.
Tax Rates for Year (2022-2023)
Basic rate: 8.75%
Higher rate: 33.75%
Additional rate: 39.35%
Tax Allowance for Year (2022-2023)
Dividend allowance: 2000
You Pay Dividend Tax according below method.
Basic Rate = 0 - 37700 (8.75%)
Higher Rate = 37700 - 150000 (33.75%)
Additional Rate = Over 150000 (39.35%)