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Tax snoops send record 165,000 tip-offs to HMRC

The number of people paying dividend tax is expected to reach a record 3.67 million in the 2024/25 tax year, according to new HMRC figures.
The government reduced the tax-free dividend allowance to £500 as of April 2024.
Rachael Griffin, a tax expert at Quilter, stated that over 1.1 million basic rate individuals are expected to owe dividend tax in 2024/25, often unexpectedly.
Forecasts indicate that many individuals could face a dividend tax bill for the first time due to cuts to the tax-free allowance.

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ilgiornale.it

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