The Budget announcements that happened in March have left many of us with mixed emotions and some unaware of what it means for their business. Here is a simple breakdown of the Budget 2016 and the relevant key points that could or will affect your business this year.
Dividend tax changes
New £5,000 tax free dividend allowance is to be introduced with increased rates of dividend tax thereafter.
The amount an individual can earn before having to pay income tax is increasing to £11,000 and we expect this to rise to £11,500 in April 2017, according to an announcement made by George Osborne.