Dividend tax reforms

by | Aug 19, 2015

The Dividend Tax Credit, which reduces the amount of tax paid on income from shares, will be abolished from April 2016 and a new Dividend Tax Allowance of £5,000 a year will be introduced.  

The new rates of tax on dividend income above the allowance will be 7.5% for basic rate taxpayers, 32.5% for higher rate taxpayers and 38.1% for additional rate taxpayers.  

Please contact us to discuss how the measures announced in the Second Budget may affect you and your business

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