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£2k Dividend allowance - do I always need to declare?
MBA MBA
Posted: 06 August 2022 17:34:22(UTC)
#1

Joined: 16/12/2012(UTC)
Posts: 1,725

If one always completes a self assessment every year, but if my total dvidends are well under the £2k allowance, do I still need to declare them on the self assessment? Even if they are only £300?

Thanks for any guidance
Tony Peterson
Posted: 06 August 2022 17:38:08(UTC)
#2

Joined: 10/08/2009(UTC)
Posts: 2,178

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Of course you do. It won't cost you anything until you declare more than 2K in dividends.

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MBA MBA on 06/08/2022(UTC)
MBA MBA
Posted: 06 August 2022 17:39:24(UTC)
#3

Joined: 16/12/2012(UTC)
Posts: 1,725

Tony Peterson;233648 wrote:
Of course you do. It won't cost you anything until you declare more than 2K in dividends.



Thanks. Just asked as, i think, if one's capital gains liabilities are less than the threshold I'm pretty sure one does not need to declare/do the sometimes complicated calculations.
Tony Peterson
Posted: 06 August 2022 17:46:38(UTC)
#4

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sure - gains don't need to be declared if you have sold under the limit for gains with proceeds under the 4x gains limit.

Divs are different. If you received divs, income, even under the limit, and left the box blank, and signed the form it looks as if you are trying to conceal something which, in fact, if they are divs from UK companies, HMRC already knows all about.

Think on that.
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MBA MBA on 06/08/2022(UTC)
MBA MBA
Posted: 06 August 2022 17:56:43(UTC)
#5

Joined: 16/12/2012(UTC)
Posts: 1,725

thanks. with £300 of dividends nothing to conceal thankfully/unfortunately.
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Tony Peterson on 06/08/2022(UTC)
Tony Peterson
Posted: 06 August 2022 18:06:11(UTC)
#6

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mba mba

It's "unfortunately" not "thankfully"

Even at the upcoming 8.5% change in tax on divs over 2k, dividends are so lightly taxed that we feel a bit guilty , especially as my pensions are still under my tax free allowance, at being required to contribute so little to the commonweal which has been so generous to us in the past, and the present too.


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MBA MBA on 06/08/2022(UTC)
Easyrider
Posted: 06 August 2022 18:11:55(UTC)
#8

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I haven't received a tax form in years possibly since I retired from P/T employment when I was 66. I therefore don't declare anything.
Bliss!
My dividends are always well below the threshold and so are my capital gains outside an ISA. Adding up my dividends and interest etc. was a right pain when I had to do it.
2 users thanked Easyrider for this post.
MBA MBA on 06/08/2022(UTC), OmegaMale on 12/08/2022(UTC)
MBA MBA
Posted: 06 August 2022 18:11:57(UTC)
#7

Joined: 16/12/2012(UTC)
Posts: 1,725

Tony Peterson;233657 wrote:
mba mba

It's "unfortunately" not "thankfully"

Even at the upcoming 8.5% change in tax on divs over 2k, dividends are so lightly taxed that we feel a bit guilty , especially as my pensions are still under my tax free allowance, at being required to contribute so little to the commonweal which has been so generous to us in the past, and the present too.




the demographics of the western world are on your side (and soon my too)
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Tony Peterson on 06/08/2022(UTC)
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