3. Dividend Allowance th The dividend allowance remains untouched at £2000pa until the 6 April 2023 which can be utilised with company dividends as a shareholder for a limited company or via an investment portfolio. If you have shares, an investment account or a limited company then make sure you are taking your allowance and gaining tax free income. th th This is reducing to £1,000 on 6 April 2023 and £500 on the 6 April 2024. If you have: 1. Shares from a business – this may change how you structure your income when you take account of the changes in corporation tax, dividend rates and income tax. 2. A collective investment such as an investment account or unit trust – you may now want to consider whether an investment bond is a more tax efficient vehicle. Speak to your adviser. 3. Shareholdings – the dividends from these may now cause you a tax charge. Would they be better in other wrappers? 4. Capital Gains Tax Allowance th Remember that every individual has a capital gains allowance of £12,300 until 6 April 2023 which can be utilised against gains from property sales, business sales, investment accounts and direct shares to name but a few. If you don’t use this allowance, you lose it. Capital gains tax is different for different types of assets and is also one of the lowest taxes, but will it remain so? Assets can be split between spouses to use two allowances so again; ensure you have your assets set up in the most tax efficient way. Capital Gains can be rolled into certain types of investments (called EIS schemes) to defer the tax payment until later or until death so if you have had a gain in this tax year contact your adviser for more information. For more information on VCT’s and EIS schemes please contact us. The capital gains tax allowance is reducing to £6,000 on the 6th April 2023 and then £3,000 th on 6 April 2024 so if you are considering selling assets, should you be doing it now? But what about losses? Certain investments, property, shares may be currently experiencing a loss. Either because of market conditions or what you have spent on a property. There can be benefits in selling an asset during a loss because capital gains losses can be rolled over to use against future gains. For example, if your investment account is currently showing a loss, your adviser may suggest doing a fund switch to crystallise the loss which you can use if you are selling a buy