It’s a new year and we are looking past the end of the Tax Return season to help our clients with numerous upcoming tax changes starting after April 6th. Its going to be a busy year as a lot of our clients are due to start autoenrollment pensions as well.: New Dividend Tax Enhanced Employment
The new dividend tax was announced out of the blue in the budget. The key facts of the proposed changes are as follows: From April 2016, the notional 10% tax credit on dividends will be abolished. A £5,000 tax free dividend allowance will be introduced. Dividends above this level will be taxed
We are often asked about the most tax efficient way of extracting funds from Limited Companies for small businesses. There are obviously many variables but a common way of doing it for for owner managers to take a small salary and the rest in dividends. The main advantage of taking a small salary is to
We are often asked to advise on remuneration for a Director of a Limited Company. This is a complex area which can be different for everyone, but one area where clients need to be careful is how they take money out of the Company. In practice the actual cash that they receive will be a
A recurring theme from clients is that they don’t want to pay any tax. Unfortunately for most people this is not an option if they have a business is making money. Even Starbucks and Amazon pay some tax, though they tend to choose in which country they pay it, and are big enough to make
A lot of clients do not realise that HMRC do not create the tax laws. Parliament lays down the law in thousands of pages of tax legislation, written in a version of English only known to the people who write them and Tax experts. HMRC then interpret that legislation and write guides on their websites
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