In view of the impending election, the government has backed off from reducing the money purchase annual allowance (MPAA) from £10,000 to £4,000 from this April.
While this change was included in the government’s Finance (No 2) Bill 2017, in the latest government amendments this clause has been left out.
The clause, which would have cut the tax-free dividend allowance from £5,000 to £2,000 from April 2018, has also been left out.
Please note that this document was prepared by a third party and as such Brewin Dolphin is not responsible for the content or able to answer queries on the topics dealt with. While we believe it to be correct at the time of writing, Brewin Dolphin is not a tax adviser and tax law is subject to frequent change. Therefore you should not rely on this information without seeking professional advice from a qualified tax adviser, who should also be able to assist you with any questions on the content.
This document was prepared as a general guide only and does not constitute tax or legal advice.