Have Tax Questions? Ask a Tax Expert for Answers ASAP
Thanks for your question
It depends on how much this is and what other income you might have - so please advise further
Thanks for your response
Then you do not have a further tax liability on the dividends - as this combined income sees you under the 40% tax bracket.
£550 x 12 = £6600
£3000 x 12 = £36,000
Combined annual income £42600
Less personal allowances £11,000
Taxable income £31600 - basic rate band £31785
And tax will not arise on the rental income as covered fully by your personal allowances ( as not used against dividends)
However you still should be making a full declaration to HMRC via self assessment on both the rental income and foreign dividends so do make sure you register for self assessment if you have not done so already.
Do let me know if I can assist further - but if you have all you need, then it would be appreciated if you could rate me for the level of service I have provided (or click accept) as this ensures Just Answer credit me for my time