Hi,
I have some Vodafone shares. Every year I get a small dividend from them, and that money is automatically used to buy new shares. I don't ever actually get a cheque (or cash) for the amount of the dividend. To give you an idea of the scale of dividend, in 2012, my dividend was GBP$43.
I have not declared this for tax purposes.
I am a PAYE worker.
a) Given that the dividend is automatically reinvested, do I need to declare this for tax purposes?
b) Am I liable for tax on this dividend (even though it is reinvested)
c) If yes to a) and b), how much trouble am I am for not declaring it before now?
Thanks
I have some Vodafone shares. Every year I get a small dividend from them, and that money is automatically used to buy new shares. I don't ever actually get a cheque (or cash) for the amount of the dividend. To give you an idea of the scale of dividend, in 2012, my dividend was GBP$43.
I have not declared this for tax purposes.
I am a PAYE worker.
a) Given that the dividend is automatically reinvested, do I need to declare this for tax purposes?
b) Am I liable for tax on this dividend (even though it is reinvested)
c) If yes to a) and b), how much trouble am I am for not declaring it before now?
Thanks