Originally posted by mudskipper
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Previously on "HMRC fact sheet on new dividend allowance"
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Originally posted by jpdw View PostThe main useful thing from this is appreciating the part "Dividends within your allowance will still count towards your basic or higher rate bands". I can see this catching out people who assume the first 5k of divi doesn't count and then mistakenly draw 5k into the higher rate band.
My concern - once the 7.5% tax and these mechanisms are in place it going to be really quite easy to gently ratchet it up by 0.5% or 1% in successive budgets. Taxing something that isn't yet taxed is the 'visible' bit that people notice.
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The main useful thing from this is appreciating the part "Dividends within your allowance will still count towards your basic or higher rate bands". I can see this catching out people who assume the first 5k of divi doesn't count and then mistakenly draw 5k into the higher rate band.
My concern - once the 7.5% tax and these mechanisms are in place it going to be really quite easy to gently ratchet it up by 0.5% or 1% in successive budgets. Taxing something that isn't yet taxed is the 'visible' bit that people notice.
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Originally posted by dynamicsaxcontractor View PostWhat's good about it? Example 6 states the £5000 allowance will be used against basic rate and not higher rate, so unless you are taking a salary all the way up to the higher rate you will get minimum use of it - you save £375 compared to if the £5000 allowance wasn't there whilst if you use it in the higher bracket you save £1625.
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Originally posted by Danglekt View PostI'm not sure why I consider it "good news" - but I do.
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Originally posted by Danglekt View PostI'm not sure why I consider it "good news" - but I do.
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HMRC fact sheet on new dividend allowance
Here: https://www.gov.uk/government/public...ance-factsheet
Just come through on RSS feed - apologies if it's a KUATBTags: None
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