The Summer Budget included an announcement a new dividend tax, effectively changing the way that dividend income is taxed. The Current System Dividend income is paid from post tax profits (also known as retained reserves). At the moment, there is no extra tax to pay on dividends if you are a basic rate taxpayer (i.e. 20%). …
The Chancellor delivered his 2015 Summer Budget (the second Budget of 2015) on Wednesday 8 June 2015. In stark contrast with the last coalition Budget delivered on 18 March 2015, there were a few important changes which affect small businesses (including a lot of changes announced which come into effect during the next 5 years). …
HM Revenue and Customs (HMRC) gave an important insight into their customer service expectations recently. As anyone who’s had to call HMRC will know, they don’t answer the phone very quickly. A recent review of their Facebook page showed that, rather than being that helpful, it is actually a place for individuals to vent their anger at …