What do you put for Dividends in Self Assessment?

[Cirrus]

For dividends in this year's Self Assessment, with the new rules as of April 2016, do you just put in the amount of cash you gave yourself ? Previously you used to do 10/9ths.

[Louisa@AardvarkAccounting]

Yes. The dividend that you physically paid yourself, is now effectively the gross dividend.

So, add up the total you've received and pop it on the return.

[Neil@Intouch]

For the 2016/17 tax return, you will be required to put the dividend amount paid. Dividends are no longer grossed up as the 10% tax credit that was in place for 2015/16 has been abolished.

The tax rates on dividends have also changed for 2016/17. You do get £5,000 in dividends tax free, which could be slightly higher depending on your employment and savings income. Any dividends above £16,000 of combined income up to £43,000 is taxed at 7.5%. Dividends over this point is then taxed at 32.5% in the higher rate tax bracket.

[pr1]

"this years" meaning the one people are probably frantically filling out right now to submit by 31st Jan 2017? They're the same as the previous years... it's only after this April (2017) it changes

[Louisa@AardvarkAccounting]

Just for clarification:

Dividends paid between 06/04/2015 - 05/04/2016 - old rules. Self assessment return due for online filing by 31 January 2017.

Dividends paid between 06/04/2016 - 05/04/2017 - new rules. Self assessment return due for online filing by 31 January 2018.

[fidot]

Surely the self assessment form that needs to be submitted by the end of this Jan is for 2015/16 so the new April 2016 rules are irrelevant

[Neil@Intouch]

Surely the self assessment form that needs to be submitted by the end of this Jan is for 2015/16 so the new April 2016 rules are irrelevant

Yes they are, but the OP asked 'For dividends in this year's Self Assessment, with the new rules as of April 2016, do you just put in the amount of cash you gave yourself?'. I assume this was just a general question and not one that they needed for the completion of the 2015/16 tax return by the end of this month.

[fidot]

Yes they are, but the OP asked 'For dividends in this year's Self Assessment, with the new rules as of April 2016, do you just put in the amount of cash you gave yourself?'. I assume this was just a general question and not one that they needed for the completion of the 2015/16 tax return by the end of this month.

Agreed, but what's the betting he is asking the question because he is filling in his form now?

Cirrus, this emphasises the need for absolute clarity when asking questions.

[Neil@Intouch]

Agreed, but what's the betting he is asking the question because he is filling in his form now?

Cirrus, this emphasises the need for absolute clarity when asking questions.

Maybe, hopefully Cirrus checks the thread before filing

[crack_ho]

I can't see that anything is changing in terms of filling out the forms.

For example Box 3 on the income section of the 2007-2008 tax return says:
"Dividends from UK companies – do not include the tax credit. "

The 2014-2015 tax return says:
"Dividends from UK companies – the net amount, do not include the tax credit - read the guide"

For the 2016-2017 form there will be no ambiguity but you still be putting in the cash amount.

So you have always put in the cash amount.

IANAA