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New Tax Rules on Dividends

Do you know how the new government rules will impact your business and dividend payments?   We have put together a brief summary of the government’s latest updates – T...
/news/new-tax-rules-on-dividends-271.htm

Dividends

Dividends The dividend tax credit (which reduces the amount of tax paid on income from shares) is to be replaced with a new £5,000 tax-free dividend allowance for all taxpayers from April...
/news/dividends.htm

Changes to dividend taxation

Changes to dividend taxation From 6 April 2016, the dividend tax credit will be replaced by a new dividend allowance in the form of a 0% tax rate on the first £5,000 of dividend income pe...
/news/changes-to-dividend-taxation.htm

Dividend Allowance

Dividend Allowance – The Government’s attempt to match an incorporated business’s tax to that of a sole trader – See below for the facts and my view Legislation included...
/news/dividend-allowance-.htm

HMRC update guidance on MSCs (Managed Service Companies)

HMRC have updated their guidance, following the recent decision in Christianuyi Ltd v R & C Commrs [2018] UKUT 10 (TCC), in which the Upper Tribunal ruled that a number of companies were o...
/news/hmrc-update-guidance-on-mscs-managed-service-companies.htm

Make the Best of Allowances

Make the Best of Allowances As the sole owner/director of your company you face a dilemma over how to extract income from that company. If you pay yourself a salary of more than £8,060 pe...
/news/make-the-best-of-allowances.htm

The future for intermediaries - IR35 - Onus may change to "engager" watch this space

The future for intermediaries - IR35 - Onus may change to "engager" watch this space The Summer Budget 2015 contained an announcement that the government is to consult on proposals to...
/news/the-future-for-intermediaries---ir35---onus-may-change-to-engager-watch-this-space.htm

Penalties on Offshore income and the ‘Requirement to Correct’ (RTC) rule

Penalties on Offshore income and the ‘Requirement to Correct’ (RTC) rule Broadly, a UK-resident taxpayer has a responsibility to notify HMRC of any taxable offshore income they...
/news/penalties-on-offshore-income-and-the-requirement-to-correct-rtc-rule.htm

Tax Efficient Profit Extraction

Tax Efficient Profit Extraction As a company owner you can choose how to extract the profits from your company, and by making the right choices you can minimise the tax and NI paid by you and t...
/news/tax-efficient-profit-extraction.htm

Child benefit claw-back

Child benefit claw-back If you or your spouse/partner claim child benefit, and at least one of you has adjusted net income of £50,000 or more for the year, the highest earner must declare...
/news/child-benefit-claw-back.htm

How trading as a sole trader stunts the growth of a small business

How trading as a sole trader stunts the growth of a small business As things stand, the individual sole trader is currently being taxed equivalent to an employee and I believe that th...
/news/how-trading-as-a-sole-trader-stunts-the-growth-of-a-small-business.htm

State Pension: Is the state pension lump sum taxable?

State Pension: Is the state pension lump sum taxable? The lump sum is taxed as income. In simple terms, the rate of tax that applies to the lump sum will be the highest rate that applies to you...
/news/state-pension-is-the-state-pension-lump-sum-taxable.htm

Budget Update - Employers

Budget Update - Employers   NIC When business owners and accountants are asked what single action could simplify the tax system, most suggest merging income tax and NI. This messag...
/news/budget-update-employers.htm
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