Magee Gammon Blog Tax Understanding dividends

Understanding dividends

Dividend word cloudAs you may be aware the Chancellor announced in his summer budget that the dividend tax credit is to be replaced with a new £5,000 tax free tax dividend allowance for all taxpayers from April 2016.

However, until recently it was unclear how this dividend tax allowance would work within the current structure of personal allowances and tax rates.  HMRC have recently clarified how the new allowance will work; for more information take a look at our guide “How Dividend Taxation Will Change From April 2016”

 

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