United Kingdom: Abolition of the Dividend Tax Credit regime
Clearstream Banking customers are advised that effective
6 April 2016
the existing Dividend Tax Credit regime will be abolished and replaced with a new Dividend Allowance in the form of a 0% tax rate on the first GBP 5,000 of dividend income per year, for a person, and available annually.
The rates of income tax for dividends received after 6 April 2016 over this allowance will increase from 7.5% to 38.1% with increasing income band.
The above mentioned is for information purposes only as Clearstream Banking neither handles nor assists with Dividend Tax Credit or Dividend Allowance.
We continue to monitor the situation in the market and will provide further information as it becomes available.
| This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice. |