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).
Almost a third of British billionaires have moved to tax havens or are in the process of relocating, research has found. Those living offshore must obey local tax laws but avoid paying HMRC 38.1% on dividends or 20% on the sale of shares.
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).