Welcome to Graham Martin & Co

Are you...

Paying too much tax?

Looking for a pro-active accountant who'll help you make more profit and pay less tax?

Starting out in business?

Whatever your needs, we can help.

Graham Martin & Co are a firm of Accountants based in Eastleigh offering accounts, taxation and business advisory and support services to a wide range of businesses and individuals.

At Graham Martin & Co we provide a cost-effective, high value solution to meet all of your financial needs. We work hard to get to know you in order to deliver timely, individual advice on how to improve your business and personal wealth. To find out more about how we can help you and your business click here for an overview of our services. To find out more about us click here. To access a wealth of information visit our resource centre or view our free factsheets.

ServicesIndividuals & Businesses

Our comprehensive range of financial and business support services and ongoing strategic advice has helped many of our clients to grow and develop their businesses over the years.

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Resources Interactive tools & factsheets

Our interactive resources and factsheets are designed to provide you with the tools and information you need to help keep up to date with your businesses finances and regulations.

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Please feel free to get in touch and send us any questions and queries that you may have.

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The current hot topic

New rules for taxing dividends

Dividend taxation is changing, and from 6 April 2016:

  • The 10% dividend tax credit is abolished, so the cash dividend received will be the gross amount potentially subject to tax.
  • New rates of tax on dividend income will be introduced (see the table below).
  • A new Dividend Tax Allowance will remove the first £5,000 of dividends received in a tax year from taxation.

The table below shows a comparison between the current and new tax rates.

Dividend falls into: Basic rate band Higher rate band Additional rate band
Effective dividend tax rate now 0% * 25% * 30.6%*
Rate from 6 April 2016 7.5% 32.5% 38.1%

*These rates include the 10% tax credit.

There are 'winners' and 'losers' under the new rules.

A higher rate taxpayer who has dividend income of £5,000. Tax liability currently £1,250 (25% of £5,000). Next year's liability - nil.
The sole shareholder of a company who takes a small salary and then dividends up to the threshold at which higher rate tax is payable. Currently no tax due. Next year only £5,000 of the dividend will not be taxable.

Those individuals who extract profits from their company as dividends may need to consider whether to increase dividend payments before this date. Where an individual does not currently extract all the company profits as a dividend they may wish to consider increasing dividends before the 6 April 2016.

However, an individual's overall tax position needs to be considered as well as other non-tax issues such as the availability of funds or profits in the company to pay the dividend.

Please do contact us if you would like any further guidance on this issue and what the new rules will mean for you.