Dividends are a distribution of company profits to shareholders. Historically, they have been taxed as unearned income – no National Insurance deductions. This is still the case, but the Treasury have decided that the recent increase of 1.25% in National Insurance rates will also apply…
Year: 2022
Tax planning 2022-23
Planning to save tax may seem like a luxury buy in these days of rising prices and recovering from COVID fallout. And yet tax planning is of real value in these uncertain times. Whether your income and profits are increasing or reducing, there will be…
Rising prices - inflation and the background
We are all feeling the effects of inflation, increasing energy, fuel and the price of basic foodstuffs affect us all. The Government Actuary’s Department has posted a blog article recently – Inflation, its personal – written by Christopher Ward, Actuary. The article provides a useful…
Reorganising company structures to save tax
When corporation tax increases from 1 April 2023, companies will need to consider three scenarios: From 1 April 2023: The main corporation tax rate is increased to 25% where profits are over the upper profits limit, set at £250,000. A small profits rate will apply…