End of tax year – one day left!
By Kirsten Hastings, 4 Apr 18
Investors and savers have just one day left to take advantage of the current tax exemptions and benefits before new rules come into force in the UK on 6 April.
Utilise the dividend allowance before it is cut
![Utilise the dividend allowance before it is cut]()
The dividend allowance means that the first £5,000 of dividend income received in the 2017/18 tax year is tax free.
This is in addition to the personal allowance for income (£11,500 in 2017/18).
Dividends over the allowance are taxed at 7.5% for basic-rate taxpayers, 32.5% for higher-rate taxpayers, and 38.1% for additional-rate taxpayers.
The allowance will reduce to £2,000 from £5,000 from 6 April 2018.
Tags: IHT
