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Paying tax on dividends

  • 01-09-2011 11:20am
    #1
    fricatus
    Registered Users, Registered Users 2 Posts: 5,081 ✭✭✭


    I'm buying shares as and when I can, and have got a few from a purchase scheme in work. Now I'm seeing a small amount of dividend income (no more than a couple of hundred a year).

    My plan is to save regularly into my stock purchase account, and use this money added to any dividends I get to purchase more shares. Over time, I should start earning more in dividends each year.

    The question is: of course I'm liable for income tax on my paltry dividend income, but is there any sort of allowance below which you don't have to pay tax?

    And if there is no such official threshold, is there any "unofficial" one, below which the cost of processing the return is greater than the tax they gain, and so Revenue aren't interested?

    I'm happy to pay my taxes, but for a piddling amount like €50 or €60 it seems pointless! Anyone got any experience with this?


Comments

  • #2
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    Declare all dividends on Form 12 and let Revenue office to decide whether it is pointless or not.


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