dougal Posted October 27, 2019 Share Posted October 27, 2019 I have to fill out a self assessment tax return. I currently have shares in the company that I work for. In one section it asks if I get any dividends from shares etc. Any dividend that I do get comes in my monthly pay so has already been taxed. With that being the case do I need to declare the dividend or because I've already paid tax can I just ignore it?? Quote Link to comment Share on other sites More sharing options...
Harry Potter Posted October 27, 2019 Share Posted October 27, 2019 17 minutes ago, dougal said: I have to fill out a self assessment tax return. I currently have shares in the company that I work for. In one section it asks if I get any dividends from shares etc. Any dividend that I do get comes in my monthly pay so has already been taxed. With that being the case do I need to declare the dividend or because I've already paid tax can I just ignore it?? Better telling them, they should know you have been taxed on them. Quote Link to comment Share on other sites More sharing options...
Mikey1874 Posted October 27, 2019 Share Posted October 27, 2019 Quite a few other sections where tax has already been paid need to be filled in including PAYE jobs. Quote Link to comment Share on other sites More sharing options...
dougal Posted October 27, 2019 Author Share Posted October 27, 2019 8 minutes ago, Harry Potter said: Better telling them, they should know you have been taxed on them. 5 minutes ago, Mikey1874 said: Quite a few other sections where tax has already been paid need to be filled in including PAYE jobs. Thanks for the info. Will fill it in. Cheers. Quote Link to comment Share on other sites More sharing options...
Victorian Posted October 27, 2019 Share Posted October 27, 2019 Dividends have a tax free threshhold and a low basic rate and higher rates. If you've been taxed on them through PAYE then you'll be paying full basic rate or higher rate on them. Depending on your level of pay, you may have overpaid and be due a refund. Quote Link to comment Share on other sites More sharing options...
132goals1958 Posted October 27, 2019 Share Posted October 27, 2019 Go on line and enter your Salary and dividend amount to calculate your liability .Can’t see how your employer can pay dividends and deduct tax through PAYE as they are different categories of Income and tax thresholds. There is a dedicated section on your self assessment return for dividend payments. 2018/19 Salary and Dividend Tax Calculator Quote Link to comment Share on other sites More sharing options...
Dboy Posted October 27, 2019 Share Posted October 27, 2019 Check your payslips and double check that the dividends are being taxed and not added to your pay after tax has been deducted. Another possibility is that your employer has been calling something dividends but HMRC enquiries have found it to really be in the nature of pay (there are some schemes designed to avoid NI but that would be extreme) if These are really dividends and are being taxed as part of your pay then it’s just wrong. Quote Link to comment Share on other sites More sharing options...
dougal Posted October 28, 2019 Author Share Posted October 28, 2019 Thanks for the replies, I'll check them out to make sure I'm filling in the form correctly. Quote Link to comment Share on other sites More sharing options...
Locky Posted October 28, 2019 Share Posted October 28, 2019 On 27/10/2019 at 08:39, dougal said: I have to fill out a self assessment tax return. I currently have shares in the company that I work for. In one section it asks if I get any dividends from shares etc. Any dividend that I do get comes in my monthly pay so has already been taxed. With that being the case do I need to declare the dividend or because I've already paid tax can I just ignore it?? If you're still unsure, call 0300 200 3310. That's the SA helpline, they can deal with any queries about filing. Quote Link to comment Share on other sites More sharing options...
dougal Posted October 28, 2019 Author Share Posted October 28, 2019 4 hours ago, Locky said: If you're still unsure, call 0300 200 3310. That's the SA helpline, they can deal with any queries about filing. Cheers Quote Link to comment Share on other sites More sharing options...
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