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Shocks in the 2016/17 PAYE Codes

As previously mentioned in various articles, the dreaded dividend tax comes into effect from 6 April 2016. This means that any dividends received in excess of £5,000 will be taxable under the new rules.

 

Under self assessment, this “extra” tax will be payable by 31 January 2018. However, H M Revenue and Customs don’t want to wait two years to receive that tax so they are now amending 2016/17 PAYE codes with an estimate of the tax you may owe on 31 January 2018.

 

Therefore, please forward any 2016/17 PAYE codes you receive to a member of the robinson+co Tax Team so they can ensure that you are being taxed correctly during 2016/17.

 

The robinson+co Tax Team can be contacted on 01900 603623, 01946 692423 or 019467 25808.

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robinson+co is a trading name of robinson+co (Gosforth) Limited registered in England & Wales 08088245. Registered office Oxford Chambers, New Oxford Street, Workington CA14 2LR. Regulated by the Institute of Chartered Accountants in England & Wales for a range of investment business activities.
robinson+co Financial Services Limited is registered in England & Wales 07272147. Registered office Oxford Chambers, New Oxford Street, Workington CA14 2LR. Authorised and regulated by the Financial Conduct Authority firm number 597189.

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The firm's professional indemnity insurance policy is provided by Liberty who may be contacted via Bluefin Professions at Castlemead, Lower Castle Street, Bristol BS1 3AG. The policy applies to claims wherever made outside the United States or Canada, based on acts, errors or omissions occurring anywhere in the world.

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