“If the Conservatives win then it is expected that this two changes will be implemented and it would be prudent to assume that these changes will happen. However, given recent election surprises it’s dangerous to assume anything at the moment which makes financial planning a little more challenging than normal,” said Gallacher.
Hassall believes the government should abandon cuts to the tax-free dividend as well as the money purchase annual allowance (MPAA), adding the allowances benefit his clients, many of whom are self-employed or small business owners.
“We need a government which recognises the small firm and give them alternate ways of being paid for the hard work and employment they provide. After all we are a nation of small owner-managed businesses taking risks,” he said.
