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Choweree House, 21 Boutport Street, Barnstaple, Devon EX31 1RP | (Tel) 01271 344300 | info@miltonpj.net



    Philip J Milton & Company Plc provides a well established and very competitively priced "direct instruction" share dealing service.






    It is estimated that 65% of the UK population does not have a valid Will. For those, the law decides how your Estate is distributed under “Rules of Intestacy” meaning that your assets are unlikely to be distributed as you wish upon your death, not even recognising an unmarried partner, for example. Do not delay making a Will! (This service is not regulated by the FCA.)


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Weekly Column

The Budget – How Will This Affect You?

13 March 2017

The Chancellor, Philip Hammond delivered his first and last Spring Budget last week, which proved to be very unexciting and did not provide good news for investors’ or the self-employed.

The two main areas which stood out were:

• The increase in the self-employed National Insurance Contributions to 10% in 2018 and then 11% in 2019

• The reduction in the annual dividend allowance from £5,000 to £2,000 from 2018.

Although the Government are now talking about delaying the increase in the self-employed National Insurance hike, the reduction in the dividend allowance will still go ahead. This will affect investors’ who receive dividends from their equity investments and those with limited companies, who draw dividends from their businesses. Currently, you can receive dividends up to £5,000 per annum without being subject to tax and any excess is taxed at 7.5% for basic rate taxpayers, 32.5% for higher rate taxpayers and 38.1% for additional rate taxpayers. The reduction in the allowance will increase the income tax liability for many investors on their portfolios from April 2018, when this reduction takes effect.

Equities still represent better growth opportunities compared to fixed interest and deposit accounts and investors should still continue to invest in these types of investments. However, if for instance, you are a higher rate taxpayer and you are concerned by the reduction in the dividend allowance, you can look to target your tax-free allowances firstly, such as ISAs (which will increase to £20,000 from April), which can hold stocks and shares and will be unaffected by the dividend allowance. For any non ISA equity investments, you can make the most of the dividend allowance over the next year and then review your portfolio and consider targeting more growth funds, which pay lower dividends.

If you are concerned by any of the matters announced in the Budget and wish to take action now with your investments to reduce any future tax liability, please speak to one of our highly qualified Advisers who will be happy to discuss your requirements with you

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Top 100 Advisers

We have made it again into New Model Adviser’s top 100 advisory firms across the Country. See:- http://goo.gl/eU44LS Yes, they have mis-spelt the name but never mind!  It is a great accolade to be amongst this esteemed bunch and reassures clients, staff and prospective clients alike that they are dealing with a Firm which has some dependable substance behind it and in our thirtieth anniversary year too.


Founded in 1985, Philip J Milton & Company are delighted and proud to offer a fully independent financial and investment planning service and we advise upon all aspects of clients’ financial affairs.

The Financial Conduct Authority does not regulate some areas mentioned on our web site including: Buy to Let Mortgages, Claims Management Activity, Taxation & Accountancy, Probate Administration and Will Writing.

Financial services complaints we cannot settle may be referred to the Financial Ombudsman Service; www.financial-ombudsman.org.uk 0800 023 4 567. Details of our complaints procedure are available via the documents tab above.

Risk Warning - Stockmarket investments can offer income through the payment of dividends and interest and good opportunities for capital appreciation over the longer term. By this, generally we mean periods in excess of five years, preferably much longer. However, we can never promise you particular returns, especially in the short-term. At any point in time but especially in the short term, your capital could be worth less than the original amount invested as some of the selected holdings may fall in value, regardless of expectations at the time of acquisition. We may also invest in funds that hold overseas securities. The value of these investments may increase or decrease as a result of changes in currency exchange rates. Returns achieved in the past cannot be relied upon to be repeated.

Philip J Milton & Company Plc is authorised and regulated by the Financial Conduct Authority.
Philip J Milton & Company Plc is entered on the FCA register (http://www.fca.org.uk/register) under reference: 181768.
# Registered Office: Choweree House, 21 Boutport Street, Barnstaple, Devon EX31 1RP
Registered and Incorporated in England number 3233275 | VAT number 682 2544 28
A list of the Directors is available from the registered office


Copyright © Philip J Milton & Company Plc - 2016