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TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 17145
Experience:  International tax
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Do you still have to pay tax on dividends even though you have

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Do you still have to pay tax on dividends even though you have a tax voucher for dividends received?
Hello and thank you for allowing me to assist you.
When a company pays you a dividend, you get a ‘tax credit’ worth one-ninth of the dividend amount. You can offset this against any tax you owe.
What you owe depends on your income.
Basic rate taxpayers don’t need to pay any more tax. The tax credit is automatically offset against the dividend tax you owe (10%). Just declare any dividends in your tax return, if you complete one.
Customer: replied 3 years ago.

Thanks, ***** ***** as I pay tax at top rate I would have to pay further tax on dividends then, ie at 37.5%?

You are most welcome.
My goal is to give you excellent service.
Unfortunately you are correct. You would pay more tax as a higher rate tax payer.
That rate is 37.5%
TaxRobin and other Tax Specialists are ready to help you