Tis the season to be tax planning

GO FOR GAINS Income from investments outside an ISA and not exempted by the dividend and savings allowance is taxable at a maximum of 38.1% for dividends or 45% for interest. [...]if you have substantial investments outside an ISA or other tax efficient wrapper, consider rearranging them so they pro...

Full description

Saved in:
Bibliographic Details
Published in:Accountancy Ireland 2019-12, Vol.51 (6), p.70-71
Main Author: Neill, Fiona
Format: Magazinearticle
Language:English
Subjects:
Borrowing
Charities
Couples
Dividends
Income taxes
Investments
Relief provisions
Tax increases
Tax planning
Tax rates
Taxable income
Taxpayers
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:GO FOR GAINS Income from investments outside an ISA and not exempted by the dividend and savings allowance is taxable at a maximum of 38.1% for dividends or 45% for interest. [...]if you have substantial investments outside an ISA or other tax efficient wrapper, consider rearranging them so they produce either a tax free return or a return of capital taxed at a maximum of only 20%. Some that were once basic rate taxpayers will become higher rate taxpayers by 2020/21. [...]if you have substantial borrowing on buy-tolet properties, it is sensible to review whether this can be reduced. [...]if both partners can keep their annual taxable income below £50,000, child benefit will not be clawed back.
ISSN:0001-4699