In addition to the increase in NI rates, it has also been announced that Dividend tax will also increase by 1.25% from 6 April 2022. The new dividend tax rates, which will apply across the UK, are: Basic rate - 8.75% (Currently 7.5%) Higher rate - 33.75% (Currently 32.5%) Additional rate - 39.35% (Currently 38.1%) The 1.25% tax rise will apply to dividends above the tax bands in future years, the government has not yet provided details of the proposed tax bands for 2022-23.
Hi everyone! I hope you all had a lovely Christmas and are now ready to have an incredible 2021. In what was a crazy year, I like to remind myself of the positives that have come out of it, the main one for me being the start of my business which I am already incredibly proud of. I wanted this update to start with me sharing my personal experience of 2020, I will then move onto accounting updates to keep you in the loop of any relevant changes. 1. Eat, Sleep, Work, Repeat Ma