{"id":1427,"date":"2016-04-11T17:42:32","date_gmt":"2016-04-11T17:42:32","guid":{"rendered":"http:\/\/www.fpgonline.co.uk\/?p=1427"},"modified":"2023-09-19T11:16:00","modified_gmt":"2023-09-19T11:16:00","slug":"dividend-tax","status":"publish","type":"post","link":"https:\/\/www.fpgonline.co.uk\/index.php\/dividend-tax\/","title":{"rendered":"Dividend Tax Changes Come Into Effect\u00a0"},"content":{"rendered":"<p>George Osborne announced in the last Summer Budget that the dividend tax credits system, which he described as \u201carcane and complex\u201d, was to be modernised. Those changes have come into effect this week and will impact anyone expecting significant dividend income.<\/p>\n<p>Writing in the Financial Times last week, Adam Palin wrote; \u201cAlthough the government has pledged that the new dividend allowance will not leave \u201cordinary investors\u201d any worse off, the policy is projected to raise \u00a36.8bn by 2020-21. For many investors, therefore, tax must be rising.\u201d <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/48597032-e521-11e5-a09b-1f8b0d268c39.html#axzz45WnZkHI5\" target=\"_blank\" rel=\"noopener\">The full article can be viewed here.\u00a0<\/a><\/p>\n<p>Those that will be hit hardest are:<\/p>\n<p>\u25cf Basic rate taxpayers receiving more than \u00a35,000 in dividends a year outside of an Isa will now pay tax at 7.5 per cent above this amount.<br \/>\n\u25cf Higher earners who pay themselves more than \u00a321,667 in dividends a year will be worse off.<\/p>\n<p>The government\u2019s factsheet on the dividend allowance can be <a href=\"https:\/\/www.gov.uk\/government\/publications\/dividend-allowance-factsheet\/dividend-allowance-factsheet\" target=\"_blank\" rel=\"noopener\">viewed here<\/a>, however, if you are keen to assess exactly how the new rules will affect you, now would be a perfect time to speak to The Financial Planning Group about re-appraising your finances.<\/p>\n<p>Alan Clifton, Partner at The Financial Planning Group, said of the rule changes; \u201cFor some Directors this could be quite a chunky increase in cost, and due to the way self-assessment works, tax collection will be delayed until January 2018 resulting in bumper rolled-up demands just after Christmas.\u201d<\/p>\n<p><strong>To discuss your finances, or make an appointment to work out the right investment and pension strategy, please call us 0800 731 7614 or e-mail\u00a0<a href=\"mailto:enquiries@fpgonline.co.uk\">enquiries@fpgonline.co.uk<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>George Osborne announced in the last Summer Budget that the dividend tax credits system, which he described as \u201carcane and complex\u201d, was to be modernised. Those changes have come into effect this week and will impact anyone expecting significant dividend income. Writing in the Financial Times last week, Adam Palin wrote; \u201cAlthough the government has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1427","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dividend Tax Changes Come Into Effect\u00a0 - The Financial Planning Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fpgonline.co.uk\/index.php\/dividend-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dividend Tax Changes Come Into Effect\u00a0 - The Financial Planning Group\" \/>\n<meta property=\"og:description\" content=\"George Osborne announced in the last Summer Budget that the dividend tax credits system, which he described as \u201carcane and complex\u201d, was to be modernised. 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