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Tax Office Chichester – Information On Company Dividend Tax Rates

Tax office Chichester – all business owners need to hire an accountant from a firm that specialises in taxes to ensure their business is handling all tax matters correctly while operating as tax efficiently as possible. One area that you need to consider is company dividend taxes, and below we provide more information about this.

You could have to pay personal tax with regards to the dividend income you get if you own shares in a business. Despite the fact that you are already subject to corporation tax on your company profits, you will still need to pay tax on the dividends you draw from your business. Your tax return accountant will calculate any dividend tax liabilities, and they will ensure that this is put on your self-assessment tax return every year. All companies in the UK, including stock market listed firms and limited companies, are taxed in the same way when it comes to the dividends they receive. At the moment, you do not pay any tax on the first £5,000 of dividends you get in the tax year. Above the £5,000 threshold, there are three rates of tax – the basic rate, which is 7.5 per cent, the higher rate, which is 32.5 per cent, and the additional rate, which is 38.1 per cent. The rate you pay is based on the Income Tax band you are in. To work this out, you need to add your income from dividends to your other taxable income. This can be confusing, but the best accountants Chichester based will be able to help.

AMG Financial Chartered Tax Advisers & Accountants can assist with all matters relating to company dividends taxation. In fact, at our tax office Chichester area, we provide bespoke tax advice for a wide range of clients. To ensure your business is operating tax efficiently, simply head to http://amgfinancial.co.uk.