Posts in Taxation

Dividends 2016/17

Posted on by tfp in Planning, Taxation

HMRC has issued a Dividend Allowance Factsheet. This confirms that this ‘simpler’ system will mean that only those with significant dividend income will pay more tax i.e. most small business’. However, investors with modest income from shares, you’ll see either a tax cut or no change in the amount of tax they owe. So a higher […]

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2015 Summer Budget – Dividends

Posted on by tfp in Planning, Taxation

The 2015 summer budget announced changes to how dividend payments will be taxed as from 2016/17. The Key points are; Currently From 2016/17 Dividend Allowance £0 £5,000 Basic Rate Taxpayer rate 0% 7.5% Higher Rate Taxpayer rate 32.5% on gross divi                      25% on divi net of tax credit 32.5% Additional Rate Taxpayer rate 37.5% on […]

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2015 Summer Budget – Residence NRB

Posted on by tfp in Planning, Taxation

The 2015 summer budget announced that the Inheritance Tax Nil Rate Band (NRB) is to remain unchanged at £325,000 until end of 2020/21 It also introduced an additional nil-rate band when a residence is passed on death to a direct descendant (including grandchildren). For HMRCs publication of the full details click here The Key points […]

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IHT Receipts

Posted on by tfp in Taxation

Link to the latest PDF document showing IHT receipt collected by HMRC (to 2011/12) http://www.hmrc.gov.uk/statistics/inheritance/commentary.pdf It has some useful information, such as; – IHT receipts, and the reduction due to the introduction of the Transferrable NRB – The number of taxpayers by estate bands (also shown in regions) – The amount of tax paid by estate […]

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