Could someone point me to the legislation where the 7.5% comes from?
And does anyone know if the changes in dividend tax rates is leading to a change to the credit too?
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Could someone point me to the legislation where the 7.5% comes from?
https://www.legislation.gov.uk/ukpga/2005/5/section/399
Probably:-And does anyone know if the changes in dividend tax rates is leading to a change to the credit too?
https://www.gov.uk/government/publications/increase-of-the-rates-of-inco...
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4 Increase in rates of tax on dividend income
(1) In section 8 of ITA 2007 (which provides, among other things, for the dividend ordinary rate, dividend upper rate and dividend additional rate)—
(a) in subsection (1) (the dividend ordinary rate), for “7.5%” substitute
“8.75%”,
(b) in subsection (2) (the dividend upper rate), for “32.5%” substitute
“33.75%”, and
(c) in subsection (3) (the dividend additional rate), for “38.1%” substitute
“39.35%”.
(2) In section 9(2) of ITA 2007 (the dividend trust rate), for “38.1%” substitute
“39.35%”.
(3) The amendments made by this section have effect for the tax year 2022-23 and subsequent tax years.