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Dissatisfaction with drip-fed information.
There has been much comment in the past week or so about the way that the new dividend tax will operate. We have known since the budget that the first £5 000 of dividends would be tax-free but nothing has been said about the mechanics. The legislation is not in the summer Finance Bill and has not been published in draft. Given the importance of this issue to owner-managed business clients it is not surprising that there has been speculation. I like others attempted to model the impact in spreadsheets but these could be no more than educated guess work. Eventually hints started to emerge from the Treasury and we now have a note from HMRC with examples of how the relief will work. These examples though helpful do not give the full picture and there are still gaps to be...
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