Dividends

[MHPPM]

Hi All

I am a Scottish based taxpayer - my account is saying that the threshold of 43k doesn't count when it's dividends and I can take the same as non Scotland before I go into the higher divi tax rate (32.5%). I can't see anything on line that supports this - can anyone help?

Thanks

 

[ladymuck]

Income Tax in Scotland - GOV.UK

You pay Scottish Income Tax if you live in Scotland. It’s paid to the Scottish Government.

You pay a different tax rate on income from 6 April 2018 to 5 April 2019.

Scottish Income Tax applies to your wages, pension and most other taxable income.

You’ll pay the same tax as the rest of the UK on dividends and savings interest.

 

[wattaj]

Google is your friend. Your accountant is correct.

 

[MHPPM]

Income Tax in Scotland - GOV.UK

Thanks I know it sames the same tax I was looking for it to mention something about the allowance but maybe it's just implied then eh?

 

[rogerfederer]

Hi All

I am a Scottish based taxpayer - my account is saying that the threshold of 43k doesn't count when it's dividends and I can take the same as non Scotland before I go into the higher divi tax rate (32.5%). I can't see anything on line that supports this - can anyone help?

Thanks

Your accountant is correct.

The last straw for me was when NixonWilliams stupidly applied the incorrect information to Scottish taxpayers and I lost a few thousand pounds as a result, despite questioning them at the time. The venture capital buyout of their other, now similarly rubbish, accounting firms who they leaned on for information also told them the wrong information.

To anybody on the forum: If you're still using NixonWilliams or associated accountants, you're an idiot and asking for trouble. Bin them.