by Alastair Wood | Mar 1, 2016 | Tax Advice
There are dividend tax planning options which can be taken before 5 April 2016 to extract as much as possible before the changes take effect: I am advising clients who have profit and loss reserves as follows: If they are basic rate taxpayers to draw as much as...
by Alastair Wood | Feb 29, 2016 | Tax Advice
In the second part of the dividend tax series we consider the situation for higher rate taxpayers In summary Even higher rate taxpayers will receive the £5k tax free allowance Once the higher rate threshold has been passed the dividend tax will be 32.5% If a business...
by Alastair Wood | Feb 18, 2016 | Tax Advice
Watch my video to see how this new dividend tax will affect you as a basic rate taxpayer after 6 April 2016 In summary Everyone will receive the £5k tax free allowance This will only apply once your income has exceeded the personal allowance limit (£10.6k 2015/16)...
by Alastair Wood | Nov 25, 2015 | Tax Advice
With two Budget’s already this year the Chancellor clearly felt he had said enough about tax changes and in the Autumn Statement stuck mainly to statistics on the improving economy quoting many positive percentages from the Office for Budgetary Responsibility...
by Alastair Wood | Jul 20, 2015 | Tax Advice
The Chancellor announced a new 7.5% dividend tax for basic rate taxpayers in the budget, to take effect from April 2016 and this has some interesting implications for small business owners particularly. The main points were: The current 10% tax credit will be...
by Alastair Wood | Mar 19, 2015 | Tax Advice
As expected at this stage of the Parliament, while there was not a lot of room for manoeuvre, there were some sweeteners across the board. There was little for small businesses as alot of the headline issues were aimed at individuals. More will be released in the...
