UK Dividend Tax Saving Boost for Expats U.K. Dividend taxes change radically under proposals planned to start for 2016-17. Currently UK company dividends are taxed at a flat 10% tax credit at source. This is to be abolished. New taxes are to replace these along with a tax free earnings that give Tax Saving opportunities to small investors and Expats.
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The 1st tax saving is a £5000 pa dividend tax free allowance. This gives a tax saving of £500 to savers, offshore investors and expats Living and Working Abroad.
The 2nd tax saving is the the new basic dividend tax rate of 7.5% payable on up to the personal allowance rate (£11000 for 2016-17) This is a tax saving of 2.5% on £11000-£5000=£6000. A tax saving of £150
This is can be offset against tax due in an expats country of tax residence.
The 3rd tax savings for those paying UK basic rate tax will pay 7.5% on their dividend income: a tax saving of 2.5% on the basic rate tax band (£32000 2016-17) equal to £800. Expats could now reclaim this or offset against tax due in their country of tax residence.
An Expat earning £43000 in UK dividend income only from 2016-17 can achieve a total tax saving of £1450
ProACT Partnership Tax Saving Expat Experts offer free review, Contact us http://www.proactpartnership.com/free-review-ask-expat-experts
Thank You Sam Orgill 2015 a Daily Pursuit of Perfection in What We Do - Be Positive Look Forward Believe in Tomorrow www.proactpartnership.com www.proactpartnership.com/blog