Andrew Goldstone and Helen Cox (Mishcon de Reya) review the latest tax developments that matter affecting private clients.
The Spring Budget
The Spring Budget was light on notable tax changes for private clients. The main points included a reduction in the dividend allowance changes to NICs for the self-employed (although these will not be as extensive as first announced) a welcome extension of the double taxation treaty passport scheme to all taxpayers and an extension of the promoters of tax avoidance schemes regime.
Reduction in the dividend allowance
Currently the first £5 000 of dividends received by an individual are charged at a nil rate. This measure was announced in the Summer Budget 2015 with effect from 6 April 2016. However in a rather quick U-turn the dividend allowance will be reduced to £2 000 with effect from 6 April 2018. For...
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Andrew Goldstone and Helen Cox (Mishcon de Reya) review the latest tax developments that matter affecting private clients.
The Spring Budget
The Spring Budget was light on notable tax changes for private clients. The main points included a reduction in the dividend allowance changes to NICs for the self-employed (although these will not be as extensive as first announced) a welcome extension of the double taxation treaty passport scheme to all taxpayers and an extension of the promoters of tax avoidance schemes regime.
Reduction in the dividend allowance
Currently the first £5 000 of dividends received by an individual are charged at a nil rate. This measure was announced in the Summer Budget 2015 with effect from 6 April 2016. However in a rather quick U-turn the dividend allowance will be reduced to £2 000 with effect from 6 April 2018. For...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
