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Tax on share divi's

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gjbryant | 10:43 Mon 25th Jun 2007 | Business & Finance
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Should I be paying tax on dividends received on shares outside of an ISA, it seems the inland revenue have taken 40% of my divi's . Shouldn't this have been part of my capital gains allowance or is that only for gains in the share price, many thanks
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Avatar Image dzug
Yes it's correct.

If you are a standard rate tax payer the tax credit will cover you, but if you pay higher rate tax you must make it up to 40%

CGT is only on realised gains on the share price.
12:31 Mon 25th Jun 2007

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