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Hi John,
If a personal has only £10,000 of dividend income. Will all of it be covered by the PA anway?
does the PA override the £5,000 divi allowance and no tax on rest of £5000 at 7.5%?Thanks
Vrinda
The PA would be deducted in deriving the taxable income of the tax year – if a person only has dividend income of 10,000 then she would have nil taxable income and pay no tax – the dividend income nil rate band would be irrelevant as none of the dividend income would be taxable!
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