Our new 123 Dividend Calculator - this shows you what you can expect to pay in personal income tax for the 2014-15 tax year.
The tax year runs from 6 April 2014 to 5 April 2015 and the calculator assumes your PAYE code is 1000L - the most common code by far.
Simply enter your gross salary for the year, any other income you expect to receive and the total dividends you would like to draw during the year and the calculator will work out your personal income tax and student loan liability (if you have one – if you don’t then simply ignore this figure).
You can use the calculator as an ongoing tool each month, putting in your income to date and the dividend you want to take that month to check that you do not cross the higher rate tax threshold and then have to start paying income tax on your dividends.
The results should be taken as an indication of your personal income tax liability - every persons tax position is different, for a more detailed forecast please call us on 0845 834 0269 or drop us an email at info@123contracting.co.uk
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