RE: Labour pension reforms5 Jan 2024 13:55
Tories....
CGT
The Chancellor has confirmed that the capital gains tax (CGT) annual exempt amount will be reduced from £12,300 to £6,000 from 6 April 2023 and to £3,000 from 6 April 2024.
Dividend tax
At Summer Budget 2015, the government announced that dividend taxation would be reformed from April 2016, abolishing the Dividend Tax Credit, introducing a £5,000 Dividend Allowance and setting the rates of tax for dividend income at: 7.5% for ordinary rate, 32.5% for upper rate, and 38.1% for additional rate. Any unused personal allowance would also be available, on top of the Dividend Allowance, to individuals who receive dividend income.
At Spring Budget 2017, the government announced that the Dividend Allowance would be reduced to £2,000 from April 2018.
At Autumn Budget 2021, the government announced that the rate of Income Tax applicable to dividend income would increase by 1.25 percentage point to 8.75% for the ordinary rate, 33.75% for the upper rate and 39.35% for the additional rate from April 2022.
April 2024 down to 500 pounds
Really l@@king forward to the Labour party getting in power, so we can escape this failed, corrupt, morally bankrupt Tory government!