Taxation of dividends


Dividend income are treated as the top band of income. In order to work out your tax payable, you will need to add your income from dividends to your other taxable income. You may pay tax at more than one rate. You don’t pay tax on dividends from shares in an ISA. Basic rate Higher rate Additional rate 7.5% 32.5% … Read More

Changes to Residential Landlords rental income tax

landlord income tax

Under the previous tax system, landlords could deduct all their mortgage interest cost from their rental income before calculating their tax liability. However, from April 2020 the tax relief on finance costs will be restricted to the basic rate of income tax which is currently 20%. This is phased in from April 2017. Furthermore, Finance costs will not be taken … Read More