DIVIDEND TAX CALCULATOR
The first £5,000 of dividend income in each tax year will be tax-free.
Those who receive more than £5,000 in annual dividend payments will have to pay tax on that income. The amount of tax they will pay is dependent on which of the three main tax bands they are in.
Basic rate taxpayers - 7.5%
Higher rate taxpayers - 32.5%
Top rate taxpayers - 38.1%
The new dividend tax takes effect on April 6, 2016.