Income Tax

Income tax is imposed on income received by employment, self-employment, investments and renting property. If you are a resident of the UK, you will have to pay Income Tax.

You have a personal allowance of £12,570.

Savings Allowances

You are entitled to tax-free amounts on personal savings depending on your income tax band.

Dividend Allowances

You are entitled to tax-free amounts on dividends, again it depends on taxable income. You will not have to pay tax on the first £1000 of dividends you may receive in a year. Anything above that is added to your income and taxed.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen

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