Just got my 2016-2017 tax code, gone from 1050L to K114
For those who are Ltd, we have always paid 20% corporation tax on company profits, then taken dividends which were not taxable. From April we will have to pay tax on dividends
which have already been taxed!! So the bggures have worked out a way to tax us twice on the same money. Not only that but my private pension which is taxed before I get it is also being added to my taxable income
Got my accountant looking into it but I reckon they're going to screw an additional 3 grand a year out of me.