PART 1Income tax, corporation tax and capital gains tax
Income tax charge, rates etc
4Increase 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.