Budget

Budget updates

Posted on 21/09/2015 at 11:20

The recent Budget in July announced some tax changes that will have a major impact on quite a number of our clients.  Although much of the press surrounding the Budget concentrated on the cuts in Welfare spending, there were a number of proposed tax changes of great importance.

Full details of these are not available at the date of writing this Newsletter; however we will be monitoring these changes closely.  Where we believe any clients will be directly affected, we will ... read more

Dividends

Posted on 18/09/2015 at 00:00

Many of our company clients will be aware of the standard practice of paying dividends up to the basic rate each year.  Currently, so long as the gross dividend does not exceed the basic rate band, no higher rate is due from the Director/shareholder.  However, from April 2016, the current dividend tax credit system is to be replaced with a new dividend tax allowance of £5,000 a year.

Dividends above the limit will be subject to tax as follows:

Basic rate ta... read more