New tax year, new structure

With the new tax year soon upon us, now is a good time to review your trading structure to ensure you are best placed for the changes that lie ahead. Ian Tongue reports

The Government has made several changes to the taxation around limited companies and pensions and so it is important for doctors with businesses to understand the impact.

There are two major changes coming into force from 6 April 2016:

 The income tax treatment of dividends;
 The reduction to an individual’s annual pension allowance for those earning over £150,000.