Bouleversee wrote:Thanks, PD. So at present it's still £500 savings interest allowance and £5000 dividend allowance but no personal allowance if total income is over £123,000; not that mine will be but one family member is over that limit, I believe.
I have yet to work out whether I will be paying higher rate tax in the current year or next, as a result of having inherited my husband's state pension. I'm sure I should be getting rid of my non-ISA shares before next year. In what order do they apply the allowances to your total income? Presumably it would have to be personal allowance against your total income and then the appropriate level of interest allowance and the dividend allowance.
I believe you can choose what income the PA applies against, though to date have not had to do this re any clients.
I think the dividend allowance drops to £2,000 re 2018/2019 per Finance Act (2) 2017, assent on 16/11/17, all the stuff that got lost in wash up when they stupidly called an election, see clause 8 re dividend allowance.
http://www.legislation.gov.uk/ukpga/201 ... d/data.htm