The end of the financial tax year is fast approaching and there are tax changes afoot.
From April, business owners who pay themselves in the form of dividends, rather than a salary, will see their tax-free allowance cut from £5,000 to £2,000.
The tax changes will also affect investors who have portfolios of shares held outside Isas or pensions.
Alan Mellor, Managing Director of Phillip Bates & Co Financial Services, commented: “This impending change will impact shareholders and business owners who are ultimately going to be paying more tax.
“Whilst there is not a lot we can do to combat the [tax] changes, we invite clients to contact us and see what their options are.”
Alan Mellor can be contacted on 0151 353 1066.