Keeping your taxes as low as possible – what you may wish to consider sooner rather than later
The 2016/17 year end for tax planning purposes is now only a matter of months away with the deadline approaching on 5 April. Effective tax planning is about knowing the personal and business taxes you are liable to pay and acting to legally minimise them. It is also about maximising your net income and creating opportunities to invest and save tax-efficiently for the current and future needs of your business, your family and yourself. Read more →
At the summer Budget 2015, Chancellor George Osborne revealed a shake-up in the way dividend income is taxed. The notional 10% tax credit on dividends is to be abolished and will be replaced by a new tax-free Dividend Allowance from April this year. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have, and is available to anyone who has dividend income. Read more →
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