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Summer Budget: Important changes to dividend taxation

16 Jul 2015

1 minute read

In last week’s Summer Budget George Osborne announced proposals to significantly change the taxation of dividends received by individuals. The proposals are anticipated to come into effect from 6 April 2016 and full details are expected to be published in the Finance Bill 2016.

The Director Shareholders of many owner managed businesses currently utilise the advantageous tax treatment of dividends to mitigate their personal liabilities, and they will be affected by these proposals.

We are considering the alternative options for Directors to extract funds from their limited companies and we are confident that, with careful tax planning, we will be able advise you on how to lessen the impact of these proposals. Once the finer details have been published and reviewed, we will be contacting clients with our further comments.

If you have any queries in the meantime please contact either your usual Shaw Gibbs contact or Angela Caiger, Corporate & Business Tax Director on 01865 292 200 or email angela.caiger@shawgibbs.com.

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