Allowances frozen and cut
It is easy to forget the hidden tax rises which are created by frozen and cut allowances, so here is a quick reminder.
Planning dividends in 2023
Owners and directors of family businesses often take a small salary from the company and any extra funds as dividends.
Dividend tax
Dividends are taxed at much lower rates than other forms of income and they are not subject to national insurance contributions (NIC).
Expert urges business owners to act over new tax hike
A tax expert at accountants and business advisors Whitley Stimpson is encouraging business owners to take action after the after the Government announced a 1.25 per cent tax hike on dividend payouts as part of its new Health and Social Care Levy.