New Dividend rules

September 25, 2015

Every Chancellor wants to make his mark and the Summer Budget has allowed George Osborne to give full reign to his reforming ideas for the tax system unfettered by the constraints imposed upon him by a Coalition government.

The fundamental change to the dividend regime is simple enough in principle. A Dividend Tax Allowance charges £5,000 of dividend income at 0% income tax, the complexities of the notional tax credit regime are thrown away and three new rates of taxation are applied to dividends above £5,000 depending upon whether the taxpayer is a basic rate, higher rate or additional rate taxpayer.

View the full new dividend regime here.

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