by MAS | Jun 28, 2017 | Uncategorized
Tax For this article we will focus only on the 2017/18 tax year. Our tax comparisons assume a simple position where the only income being earned by a person is either their sole trader income or their salary and dividends from their limited company i.e. there is no...
by MAS | Jun 28, 2017 | Uncategorized
The introduction of the £5,000 tax free dividend allowance has tempted many family company shareholders to give shares to other family members so that they can be paid £5,000 a year tax free. (Note that this allowance reduces to £2,000 from 6 April 2018). Such a...
by MAS | Jun 28, 2017 | Uncategorized
The £5,000 tax free dividend allowance introduced by George Osborne will be reduced to just £2,000 from 6 April2018. Currently, once the dividend allowance has been used the remaining dividends are taxed at 7.5%, 32.5% and then 38.1% depending upon whether the...
by MAS | Jun 28, 2017 | Uncategorized
For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This was originally announced on 8 July 2015 and that date is relevant where the deceased has downsized to...
by MAS | Jun 26, 2017 | Uncategorized
SNAP ELECTION MEANS SHORTER FINANCE ACT PASSED The original Finance Bill published after the Spring Budget ran to nearly 700 pages. As a result of the announcement of the General Election on 8th June a significantly shorter Finance Bill was passed with many of the...
