Tax credits and dividends

Since 6 April 1999, it has not been possible to claim back the tax credits attaching to dividends on UK company shares. Anyone who enjoyed an annual repayment from this source up to 1998/99 no longer receives it. This only affects people who have other income totalling less than their personal allowances - if you have interest income and a salary or a pension which add up to more than the annual tax-free amount, you still enjoy the same repayment as before. But where husband and wife have in the past transferred shares between them (or put them in joint names) to generate this repayment of tax credit, it is worth looking again to see if a better plan is available.

Actionpoint:

CAN THE REPAYABLE TAX CREDIT BE REPLACED?

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