UK government considers cutting tax-free dividend allowance – Bloomberg


© Reuters. British Chancellor of the Exchequer Jeremy Hunt exits a car outside Number 10 Downing Street, in London, Britain November 1, 2022. REUTERS/Hannah McKay

LONDON (Reuters) – Britain’s government is considering cutting the tax-free allowance for dividend income, Bloomberg reported on Thursday, before a Nov. 17 budget.

The report, citing two officials familiar with the matter, added that finance minister Jeremy Hunt was looking at cutting the amount shareholders can earn in dividends before they begin paying tax from the current level of 2,000 pounds ($2,235).

“All options are under consideration,” said a government source when asked about the report. ($1 = 0.8950 pounds)

(reporting by Muvija M)