Business Dividends

Tax on UK Dividends – What the changes mean for savers and business owners

The Government must be relishing its announcement in the Summer Budget on 8thJuly, designed to simplify dividend taxation and bring the treasury an additional revenue of £2.5bn per year. Yet the Chancellor said that 85% of those who receive dividends will see no change, or be better off. So where is this additional revenue going to come from? How will savers be impacted, and in particular business owners, who depend largely on dividends for their income?