The Marriage Allowance

Many couples are unable to benefit from the Marriage Allowance; AND the maximum benefit is only £238 (2018/19).  But it’s simple to calculate and to claim. It is for Married Couples and Civil Partnerships where one is a Basic Rate Taxpayer (taxable income £11,850...

Child Benefit Clawback needs ITR

Any household where a parent or their partner has an individual income of more than £50,000 will see at least some of their child benefit clawed back due to the High Income Child Benefit charge. If you have chosen to continue receiving child benefit payments then...

How does paying dividends reduce my Company’s tax bill?

It doesn’t.  A Company pays Corporation Tax on its profits before dividends are paid out.  Consequently, shareholders are treated as having already paid tax on their dividends (called a ‘tax credit’). A shareholder who is paying Higher Rate Tax will have the dividends...