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Legal Terms - dividend tax
Dividends are taxed as distinct income, apart from other earnings. The initial portion of dividend income is exempt from income tax. Dividends over that threshold incur a fee. No tax credit is applicable on received dividends. The tax is not imposed on dividends received by a corporation. Dividend tax is a tax in the UK; unlike the primary income tax rate, neither the Scottish Parliament nor the Welsh Assembly can establish a distinct rate for dividend tax.
Dividends are taxed as distinct income, apart from other earnings. The initial portion of dividend income is exempt from income tax. Dividends over that threshold incur a fee. No tax credit is applicable on received dividends. The tax is not imposed on dividends received by a corporation. Dividend tax is a tax in the UK; unlike the primary income tax rate, neither the Scottish Parliament nor the Welsh Assembly can establish a distinct rate for dividend tax.
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