The Government has announced that the current Annual Investment Allowance (AIA) of £1,000,000, which was due to revert down to £200,000 on 1 January 2021, will be extended for a further year to 1 January 2022.
What are dividends? How much tax do you pay on them? Dividends are a tax-efficient way of extracting profit from a family business.
The government has announced a package of measures to ensure small businesses get paid on time.
The start of the new tax year means that shareholders and directors may want to review the salary and dividend mix for 2019/20 to ensure that you are in the best possible tax position.