income tax

October 2015

Staying connected trumps priorities

By |October 9th, 2015|

Figures show that only 39% considered providing financial security for their family as essential
Britons consider having an Internet connection and mobile phone to be greater financial priorities than protecting mortgage and income, according to new research.

According to latest figures from the  Scottish Widows Protection Report, has revealed that only 39% considered providing financial security for […]

August 2015

Exempt Dividend Income

By |August 19th, 2015|

At this moment in time, dividends paid to basic-rate taxpayers are regarded as taxed already within the corporate tax system, so there for there is no further tax to pay.
Under the new rules, only the first £5,000 a year of dividend income will remain exempt.
For dividend income above the allowance, basic-rate taxpayers will pay 7.5%, […]

Reforming Dividend Tax

By |August 14th, 2015|

The dividend tax credit ( which reduces the amount of tax paid on income from shares ) shall be replaced by a new £5,000 tax-free dividend allowance for all taxpayers from 6 April 2016.Tax rates on dividends will also be increased .
This new simpler system will mean that only those with significant dividend income will […]

May 2015

Income Tax Personal Allowance

By |May 4th, 2015|

Increase announced to £11,000 from April 2017

Mr Osborne confirmed the personal allowance will rise from its current level of £10,000 to £10,600 from April this year as planned, and will mean the typical taxpayer is £900 a year better off. He also announced the threshold at which people pay the higher rate of income tax […]