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Telegraph

Telegraph

600,000 more investors dragged into paying tax

Telegraph
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In 2024 , 1.2 million higher-rate taxpayers will be forced to pay dividend tax, up from 556,000 in 2021-22 .

The tax-free limit on dividend income was brutally slashed in April from 1,000 to 500 by former chancellor Jeremy Hunt .

In the current tax year , nearly 3.6 million investors will pay 17.8bn of dividend tax - double the amount four years ago .

The bulk of the tax bill will be paid by workers in the top 45pc band.