UK Tax Calculators.co.uk
UK Tax Calculators.co.uk
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really good
Sun - 20/12/2015 18:44:00
the 2016/17 dividend tax seems to be wrong as it assumes the £5000 0% band is given against higher rates.
Fred - 14/10/2015 16:57:45The details within the Summer Budget 2015 policy paper state that from April 2016 the Dividend Tax Credit will be removed and replaced with a new tax-free Dividend Allowance of £5,000 a year for all taxpayers.
Ray Arman
Multi source wizard calculator doesnt allow £1000 of personal savings allowance (500 if higher rate)?
Ac - 14/07/2015 18:12:46This has been corrected and should now be showing.
Ray Arman
Follow up example: Use 12.8k net savgs income, 5k divs. Calc shows no tax. Add £1 to divs, calc shows £1000.08 tax!
AC - 14/07/2015 17:01:30The calculator was taking dividend income into account as non-savings income. This has been removed now. If your non-savings income is above the starting band level, the 0% rate will not apply and the basic rate percentage will be used instead.
Ray Arman
Follow up: I read dividend income eligible for the personal allowance if no earnings http://bit.ly/1LeZndJ
Ac - 14/07/2015 16:55:49There is no clarification yet from HMRC on whether the non-savings personal allowance can be used against the dividend income directly. We will update as more information for the 2016 tax year is released.
Ray Arman