How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Sam Your Own Question
Sam, Accountant
Category: Tax
Satisfied Customers: 14154
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
Type Your Tax Question Here...
Sam is online now

Does personal allowance come second to investment income allthough

Customer Question

Does personal allowance come second to investment income
allthough i havent used up all of my personal allowance I still have to pay £90 of dividends from share holdings is this correct
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Thanks for your question
Unless you are a higher rate taxpayer (which does not seem to be the case if you have unused personal allowances) then your investment income (dividends) would already have been subject to 10% credit so no further tax would be due.
This would apply to genuine investment dividend payouts as those as a company director/shareholder.
But you should not have a tax bill, just a credit of tax paid which is non refundable (as notional tax)