Maximising Tax savings by having a tax efficient salary and dividends strategy : A directors salary remains a tax efficient way to extract income from a limited company for most directors, accompanied by dividends . Whether a directors salary is the right choice, and at what level, will depend on your individual circumstances, it is therefore highly recommended to speak to an accountant or tax advisor to ensure you are set up in the best way for you! Assuming a director has o

Important dates and deadlines The UK tax year for individuals runs from 6th April - 5th April each year, with the deadline always the following 31st January. For the 26/27 tax year, this will cover personal income between 6th April 26 - 5th April 27 with a filing deadline of 31st January 2028. Personal allowance The personal allowance remains at £12,570 for the 26/27 tax year, including Scotland, England, Northern Ireland and Wales. This means that the first £12,570 you earn

Check if you need to file a self-assessment with HMRC for the 25/26 tax year.

What are dividends? Dividends are a type of income received from a limited companies profits, to its shareholders. Most small business owners, who run a limited company, will take their income in a tax efficient way, which is a mixture of directors salary and dividend income. You may also receive dividends from investments throughout the year, such as a Stocks and Shares portfolio. How much can I take and how often can I take dividends? The amount of dividends you take from a

Check if you need to file a self-assessment with HMRC for the 23/24 tax year.

Guide to the child benefit changes reported by HMRC.

Simple guide to dividend tax rates

This guide is for Sole Traders to understand their tax and national insurance rates.

As we approach the end of the tax year, now is a good time to get your finances in order and make sure you have taken all necessary steps...