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Sam, Accountant
Category: Tax
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Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I am about to do my self assessment forms. I have some Dividend

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I am about to do my self assessment forms. I have some Dividend income from a business I run. I am a standard rate tax payer prior to the dividend income. If the Dividend income pushes me into the High rate tax band what tax rate will I need to pay on it?
Thanks for your question
I am Sam and I am one of the UK tax experts here on Just Answer.
AS its dividend income, it is treated as already having suffered 10% tax (at source - notional tax) then any element of the dividend that edges into the 40% tax bracket will see a further 22.5% (so 32.5% less the 10% already suffered) will be due on the dividend
If you are filing online, then the calculation of what tax is due, is made for you.
Let me know if you wish me to expand on any element of my response.
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