Dividend tax withheld

I have just noticed that 20% dividend tax has been withheld with unite student dividend payments. Am o not supposed to pay this when i do my self assestment as dividend tax. Has there been any changes to laws with collection of dividend taxes. Does this also mean i will pay my standard rate 7.5% at the end of the tax year to hmrc on top?

Is it a REIT? If it is a REIT then that’s probably why you’re getting a 20% on the dividends. Courtesy of HMRC

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It’s a REIT. Google it.

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Thank you folks. Appearantly PIDs taxed diffently and notvtreated like dividends. But as long as it am basic rate tax payer o don’t have to pay further more tax pn top of this 20% withheld already .

I took a look and noticed UTG is available in GIA only.

For GIA we have a tax free dividend allowance of up to £2000 for the fiscal year. I believe you’ll only have to pay taxes on dividends received above that threshold. I think if you have £1999 in total dividend income from your GIA you have nothing to worry about. I hope you get £199900 instead so you can have something good to worry about

I’m not a qualified tax expert, hence there may be more to it that I’m unaware of

That’s unfortunately not correct for PID dividends. They are property income and taxed with your personal tax rate.

Hi,

This is an old thread, and one that got that contributed to my temp., forum ban , so I was hesitant to reply today.

Turns out I was £1000 off as per Gov advice below & as you correctly wrote this is taxed as income tax. This government advise was last updated in 2019.

" You can get up to £1,000 each tax year in tax-free allowances for property or tradingincome from 6 April 2017. If you have both types of income, you’ll get a £1,000 allowance for each"

I think I can get this back through self-assessment. I have a year to work it out.

Please could someone close this thread?