The taxation of dividend income was reformed from 6 April 2016. Since that date, dividends are paid gross – there is no longer any associated tax credit – and all taxpayers receive a dividend allowance.
Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn't mean completely checking out of the process each month or quarter.
Wondering if you're doing everything you can to boost revenue and cut costs? Or if your business is actually more profitable this year than it was last?
The best way to answer these questions is with a thorough assessment of profitability.