# Where has the Dividend Tax gone ?

10% of £37862 = £3786.20, but only £3756.90 is credited to my client (checked through the HMRC website and commercial software). My own calculation in Excel would show a £5 refund. Please someone, tell me what I am missing

Tax calculation

This section provides you with a breakdown of your full calculation.

Pay from employments                                                                                                        £5,712.00

Pay from all employments                                                                                                   £5,712.00

Interest received from UK banks and building societies                                                 £838.00

Dividends from UK companies (plus 10% tax credits)                                                    £37,862.00

minus

Payments into a retirement annuity contract etc.                                                             £368.00

Personal allowance                                                                                                               £6,475.00

Total                                                                                                                                       £6,843.00

Total income on which tax is due                                                                            £37,569.00

How we have worked out your income tax

Amount            Percentage              Total

Dividends from companies etc                          £37,400.00           @ 10%             £3,740.00

£169.00            @ 32.5%               £54.92

Total income on which tax has been charged                                                      £37,569.00

Income Tax charged                                                                                               £3,794.92

minus 10% tax credits on dividends from UK companies (not repayable)               £3,756.90

Income Tax due after dividend tax credits                                                                   £38.02

minus Tax deducted

Interest received from UK banks and building societies                                              £14.75

Total tax deducted                                                                                                       £14.75

Total Income Tax due                                                                                                   £23.27

|

|
• 182 9
• 127 1
• 81 1
• 90 1
• 84 4
• 735 10
• 287 8
• 308 15
• 221 5
• 153 7
• 319 14
• 61 1
• 205 4
• 446 18
• 80 2
• 218 3
• 235 5
• 177 1
• 528 28
• 106 1
• 1,206
• 601
• 405
• 312
• 192
• 188
• 187
• 181
• 172
• 161