Independent chartered accountants WBV Ltd has expressed fears that measures introduced in the Chancellor’s Summer Budget will affect the profit margins of SMEs.
George Osborne’s seventh Budget – the first of this Conservative Government – heralded a decrease in Corporation Tax but saw a rise in dividend taxes.
David Rowe, partner at the Neath and Swansea based firm said, “SMEs will see significant changes to dividend taxation from April 2016, which will impact on the overall tax rates and the effective tax rates on extracting profits.