dividends allowance

2023 does seem to be flying by and from 6th April we moved from one tax year into another. But what’s changing in this tax year? What do you need to know for your business and financial planning?   We’ve created a roundup of some of the most important changes...

Under the current legislation, dividends attract a 10% tax credit which means that basic rate tax payers pay no tax on £28,800 of dividend income (assuming all of the personal allowance has been used by on other income), while higher rate tax payers pay an effective rate of 25%. This...