Have You Declared All Your Dividend Income?

Burgis & Bullock is reminding clients to check their Self Assessment tax returns for the year ended 5th April 2024. HMRC has launched a new wave of ‘one to many’ letters, this time focusing on potential omissions of dividend income from 2023/24 Self Assessment Tax Returns.

Remember to check that your tax return for the tax year ended 5 April 2024 includes all your dividend income.

If you have made any errors, you can correct these by logging on to your HMRC online account – go to GOV.UK and search for ‘Self Assessment tax returns’ and choose ‘if you need to change your return’. https://www.gov.uk/self-assessment-tax-returns

If you’re satisfied your Self Assessment return is correct, you don’t to do anything or contact HMRC.

If you amend your return ie you may need to pay more tax, or you could be owed tax. You can amend your return up to 31st January 2026. Don’t forget, HMRC charge interest on late payments. If your return is incorrect, or you have not paid enough tax you may be charged a penalty.

If you have any queries, please contact your local B&B office https://www.burgisbullock.com/contact-us/