On a self assessment tax calculation for a self employed, if there is dividend received from a company where a directorship is held, is this added on to Profit from self employment and then minus Personal Allowance etc?
Also, is there a minumum amount from which tax is chargeable on dividend income? Someone was telling me that there ia an amount below which no tax is chargeable on dividend received?
Don't forget to gross it up, ie include the 10%tax credit. On your second point, as long as the total income from all sources, self employment, paye, dividends, interest etc is within the basic rate threshold then there will be no further tax to pay on the dividends received.
May I ask a question on this... I have a stockbrokers account, and this year I earned foreign dividends and interest, as well as, UK divs and interests. I am thrown off, because of this....
I have set up the UK dividend page, and the foreign income page (in Tailor my Return) online
On the UK dividends page, there is a box that asks for foreign dividends (up to £300) - mine is £260 less £40 USA income tax. It says not to include any amount in this box, on the foreign income page.. do I not have to disclose the £40 US income tax anywhere?
-- Edited by FoxAccountancyServices on Thursday 16th of January 2014 02:03:02 PM
