Author Archives: lfreeman

Changes to Dividend Taxation from April 2016

ChanceFor owner / managers of small limited companies, taking a minimal salary and then larger dividends, a major change is about to occur from April 2016.  Whereas currently any dividends taken which maintain your personal income within the basic rate band (approx. £42k total earnings) are effectively tax free, in future you will have a personal tax bill to pay.  Continue reading

New Tax Year – Round-up of Changes

Personal Tax
The tax-free personal allowance is now £10,600 (was £10,000) but remember employee NICs of 12% start at £8,060.
Higher rate tax starts at £42,385.
At £100,000 the £10,600 personal allowance is gradually reduced and completely taken away at £120,000—marginal tax rate is 60% in this band!

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