Dividend tax
All Quiet on the Tax Front
September 21, 2023Taxation With the government’s time taken up in dealing with economic issues such as high inflation and public debt, we are not expecting any significant tax announcements until the Budget, due to be held next March. The General Election is likely to be held later next year, so this Budget may well contain a lot
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Taking your profits as dividends.
March 15, 2023If you are a company owner, you will be used to taking funds you need from your company in the form of a small salary. With anything extra paid as dividends, or perhaps as rent or interest. For some years the first £2,000 of dividends received by each taxpayer has been tax-free. However, that is
Read More Prepare for higher dividend tax 2023/24
February 5, 2023The tax you pay on dividends increased by 1.25 percentage points from 6 April 2022; these higher rates will remain in place for 2023/24. The dividend allowance in 2023/2024 will be cut from £2,000 to £1,000 on 6 April 2023 and cut again to £500 in April 2024. This is due to the higher dividend
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