DO YOU HAVE TO PAY TAX ON DIVIDENDS (UK)?

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Dividends are often misunderstood. In this video Dan runs through the key things you need about how they are taxed.
Topics include:
Do you pay tax on dividends
How much dividend you can pay tax free
Dividend tax basics
Dividend tax as a director
Paying a dividend
Dividend tax rates UK
00:00 Intro
00:35 Dividend Tax explained
01:02 Dividends used to feel tax free
01:31 Tax free dividend allowances
01:45 How dividends are taxed with other income
02:48 Dividend Tax Rates (23/24)
03:15 How do I pay the dividend tax and when?
04:36 Make sure dividends are legal
05:24 Outro
… and more!
If you have any questions on this, please comment below.
Subscribe to our Podcast on Spotify and Apple: “The HeelanHub Podcast” - a show for small business owners.
Join our mailing list for tax tips at: www.heelanassociates.co.uk
You can see more about what we get up to as an Accountancy Business on the following:
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Web: www.heelanassociates.co.uk
Call: 02392 240040 Email: info@heelanassociates.co.uk
#accounting #smallbusinessuk #tax

Опубликовано:

1 июн 2024

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Комментарии : 24

@philipashton1443 15 дней назад

How do you pay the dividend tax if you're over the allowance and you're working for someone else ?

@HeelanAssociates 10 дней назад

Inside a personal tax return.

@lawrencer25 8 месяцев назад

Fabulous video ❤

@HeelanAssociates 8 месяцев назад

Glad you enjoyed!

@evka24 6 месяцев назад

Thank you

@HeelanAssociates 6 месяцев назад

You're welcome

@NenadNikolic 4 месяца назад

Hi, for non residents, all income outside of UK, are corporate and dividend tax zero (all tax) ? Can be payed out each month completely as dividend?

@HeelanAssociates 4 месяца назад

Difficult question to answer me in comment sadly, particularly when talking about the corporate tax. You certainly can have situations where UK isn’t taxing that income, but it’s so situational.

@stevenlong2177 5 месяцев назад

Hi, what tax rate is applied to retained profits when a Ltd company is shut down? (e.g. non-declared dividends).

@HeelanAssociates 4 месяца назад

Depends how the cash ‘comes out’. Often owners may choose to liquidate the company at the end and see a return of their capital, which can often be at 10-20% (conditions apply). Otherwise the income will generally be subject to usual income taxes when withdrawn before being dissolved (otherwise money goes to the crown).

@evka24 6 месяцев назад

Can you be the only one director and as well only one shareholder in the company or there must be more than one? Thank you

@HeelanAssociates 6 месяцев назад

Yup fine to be the only one and be both. (Very common).

@Jonnyicey 3 месяца назад

Is it possible that the tax for dividends can be paid by the ltd company along with corporate tax or is dividend tax always paid by the individual?

@HeelanAssociates 3 месяца назад

The tax of dividends paid to private individual shareholders will be income tax, so payable by them. Some owners might choose to take further funds from the company to pay tho. This might help www.heelanassociates.co.uk/how-to-plan-for-your-dividend-tax-bill/

@Jonnyicey 3 месяца назад

@@HeelanAssociates that was useful, thank you.

@jakekelly8329 7 месяцев назад

Do corporate shareholders (rather than shareholders who are individuals) have to pay tax on dividends? Cheers

@HeelanAssociates 7 месяцев назад

Not usually (UK).

@letsplaywitheesa1668 6 месяцев назад

What the difference between corporate shareholders and individual shareholders?

@user-vt2un1dz2e Месяц назад

The acceptable dividend rate should be (Top individual tax rate)- (corporate tax). Thats how it is in every other country. In UK this sounds like a theft

@HeelanAssociates Месяц назад

The rates have certainly become very ‘odd’ over last few years.

@evka24 6 месяцев назад

I am sorry but income of the company is taxed first and then dividends are taxed again ? Sorry I am complete beginner

@jamestomkinson8474 6 месяцев назад

That’s what I wasn’t sure about either. It literally makes no sense to run a business in that case. And you’re taxed on virtually all of it compared with being an employee!

@HeelanAssociates 6 месяцев назад

That’s right company pays corporation tax and then person receiving the dividends will usually pay some more tax on them as well. Sounds like a bad idea but due to the way the various taxes interact it works out really well at many levels of income. Some of these may help Limited Company Pay Guides ru-vid.com/group/PLkzy-8ym2nIi8vYzSPe2bhFbldNlxQxG-

@user-vt2un1dz2e Месяц назад

@jamestomkinson8474 It makes perfect sense in other countries as dividends are taxed at lower rate, it makes no sense in UK tho. The dividend should be 20%