Reduction to tax-free dividend allowance confirmed

You may recall Chancellor Hammond announcing in his Spring Budget that the tax-free dividend allowance would reduce from £5,000 pa to £2,000 from 6 April 2018. However, given the amount of ‘distraction’ and rather frenzied political climate at the time, this proposed legislation was dropped at the last minute and didn’t make it into the Finance Act earlier this year. … Read More

Year end tax planning tips

With the Budget recently behind us and the next tax year about to begin on 6th April 2017, here are some of our top tax planning tips: Income tax Ensure income-producing investments are held by the spouse who has the lowest tax rate Make use of the transferable married couples allowance where one spouse is not fully using their personal … Read More

Year end tax planning tips – March 2014

With the end of the tax year almost upon us, here are some tax planning tips to consider: Tax Rates Income over £150,000 per annum is taxed at 45% but adding in the loss of the personal allowance can result in a top rate of tax of up to 60% for some. Individuals with income close to the thresholds could reduce … Read More