Am I right about this divi tax? Am I right about this divi tax?
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  1. #1

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    pscont is a disguised employee


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    Default Am I right about this divi tax?

    If one lives in Scotland the amount they have to earn in total before the dividend tax becomes 32.5% is £43431.
    Compared to £50000 in the rest of UK.

    Am I right?

  2. #2

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    pscont is a disguised employee


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    Found it. I am wrong it seems.

    Current rates
    You pay Scottish Income Tax if you live in Scotland. It’s paid to the Scottish Government.

    You pay a different tax rate on income from 6 April 2018 to 5 April 2019.

    Scottish Income Tax applies to your wages, pension and most other taxable income.

    You’ll pay the same tax as the rest of the UK on dividends and savings interest.

  3. #3

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    KinooOrKinog has more data than eek

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    Quote Originally Posted by pscont View Post
    If one lives in Scotland the amount they have to earn in total before the dividend tax becomes 32.5% is £43431.
    Compared to £50000 in the rest of UK.

    Am I right?
    Yes I think that's right.
    If you don't have anything nice to say, say it sarcastically

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    Quote Originally Posted by KinooOrKinog View Post
    Yes I think that's right.
    Haha ok I'm wrong!
    If you don't have anything nice to say, say it sarcastically

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    TheCyclingProgrammer is NOT a disguised employee


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    This article seems to confirm that Scottish rates AND bands only apply to earned income. UK tax bands and rates apply to dividends.

    Scottish income tax rates and thresholds for 2019/20 – what do they mean for Scottish taxpayers? | Chartered Institute of Taxation

  6. #6

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    WordIsBond - scorchio!


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    Quote Originally Posted by pscont View Post
    If one lives in Scotland the amount they have to earn in total before the dividend tax becomes 32.5% is £43431.
    Compared to £50000 in the rest of UK.

    Am I right?
    If one lives in Scotland one has made a bad mistake as long as the SNP and Greens together have the ability to set tax rates.

  7. #7

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    Quote Originally Posted by WordIsBond View Post
    If one lives in Scotland one has made a bad mistake as long as the SNP and Greens together have the ability to set tax rates.
    Current tax bands situation proves you right.
    However Scots are much better human material than English, so money hit is bearable.

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    JohntheBike is NOT a disguised employee


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    Quote Originally Posted by WordIsBond View Post
    If one lives in Scotland one has made a bad mistake as long as the SNP and Greens together have the ability to set tax rates.
    It could be worse. The Welsh Assembly have just announced that it is considering increasing taxes to pay for old age care. Funny how it's free in Scotland and they didn't increase taxation to pay for it!

  9. #9

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    Lance - scorchio!

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    Quote Originally Posted by pscont View Post
    Current tax bands situation proves you right.
    However Scots are much better human material than English, so money hit is bearable.
    sweeping ******* generalisation there....
    Mind you, you've not been banned for a few weeks, so you're ready to spout some utter garbage like this.
    See You Next Tuesday

  10. #10

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    Quote Originally Posted by Lance View Post
    sweeping ******* generalisation there....
    Mind you, you've not been banned for a few weeks, so you're ready to spout some utter garbage like this.
    Matter of opinion mate. Are you saying I am not allowed an opinion?

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