The value of shares you can hold outside an Isa before paying dividend tax has shrunk from £135,000 to £46,500, according to new research. In April last year, the dividend allowance fell from £5,000 to £2,000 (HMRC).
HMRC has entered into a new phase as it moves out of its – nearly year-long – testing period for its ‘Making Tax Digital’ Income Tax pilot. Essentially, anyone who is self-employed can now enter the pilot (HMRC Tax).
The number of tax evasion cases identified by HMRC for the 2017/18 year was 3,809 – an 18% rise on 3,216 in 2016/17. It is likely this development has something to do with the Revenue’s extensive new data collection powers under the Common Reporting Standard (CRS).