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Date: 20th July 2016

New rules on dividends has tax implications

In the year to 5th April 2017, if you intend to receive dividends from a company, then you will be aware that from April 2016 there have been some changes to the way dividends are taxed in that the Dividend Tax Credit has been replaced by a new tax-free Dividend Allowance. Mark Witt alerted you to this in the last issue, but it is worth reiterating in a bit more detail.

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Date: 11th March 2016

Dividend Allowance replaces Dividend Tax Credit

April 2016 sees significant changes to rates of tax, says Tony Croft. From April 2016, the Dividend Allowance will replace the Dividend Tax Credit, meaning you won’t have to pay tax on the first £5,000 of your dividend income, irrespective of your non-dividend income. This is a fairly generous allowance, although it does reduce your Basic Rate band by the same amount.

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