Say No to Dividend Tax - Parliamentary Petition

[pr1]

Are they applying this retrospectively ?

don't give them ideas!

(no)

[fullyautomatix]

don't give them ideas!

(no)

Then, in that case, why all this petition and all that malarkey ? Loophole has been closed, so move on and find another one. Cant be difficult.

[pr1]

Then, in that case, why all this petition and all that malarkey ? Loophole has been closed, so move on and find another one. Cant be difficult.

what loophole is that?

[fullyautomatix]

what loophole is that?

Loophole of running a one man company ( disguised employee ), paying yourself minimum wage ( will you work in Mcdonalds for minimum wage?), paying the rest of the salary as dividends.

[pr1]

Loophole of running a one man company ( disguised employee ), paying yourself minimum wage ( will you work in Mcdonalds for minimum wage?), paying the rest of the salary as dividends.

it doesn't actually close that "loophole" because it also affects mister shop owner who stays open 16 hours a day trying to grow his business, and mister supplier who buys £50k of stock and risks the buyer backing out - you know, the people who take proper business risk

closing the loophole would be "dividend tax to anyone taking dividends from a one man company (disguised employee)"

this is "dividend tax to anyone who receives dividends"

[d000hg]

it doesn't actually close that "loophole" because it also affects mister shop owner who stays open 16 hours a day trying to grow his business, and mister supplier who buys £50k of stock and risks the buyer backing out - you know, the people who take proper business risk

This is very true, but let's be honest, CUK members are not upset on behalf of hard-working shop-owners. It is self-interest, and then they're using this to make it look better. Which is exactly what the politicians do to justify their dodgy decisions. You're desperately looking for arguments which support your pocket, you couldn't give a crap about mister shop owner.

[pr1]

This is very true, but let's be honest, CUK members are not upset on behalf of hard-working shop-owners. It is self-interest, and then they're using this to make it look better. Which is exactly what the politicians do to justify their dodgy decisions. You're desperately looking for arguments which support your pocket, you couldn't give a crap about mister shop owner.

am i? I was just stating that it isnt a loophole closer, it's a revenue increaser without changing income tax NI or VAT

maybe at 7.5%, what about at 10%? 12.5%? 15%? What about if the 5k free limit reduces to zero?

it's not going to happen, but the time to challenge it is now, not when it's been introduced and they start creeping it up 1 or 2% per year

(I'm only playing devils advocate, I think we should all pay PAYE but no employers NI, which I think the div tax will align to in the near future)

edit: I'm also not signing the petition

[fullyautomatix]

it doesn't actually close that "loophole" because it also affects mister shop owner who stays open 16 hours a day trying to grow his business, and mister supplier who buys £50k of stock and risks the buyer backing out - you know, the people who take proper business risk

closing the loophole would be "dividend tax to anyone taking dividends from a one man company (disguised employee)"

this is "dividend tax to anyone who receives dividends"

Doesnt matter who is genuinely affected, we are on contractor's forum and you are getting uppity about it. So lets look at your use case first. Your dividend loophole was closed, and its not retrospective. So why all this protest?

[pr1]

Doesnt matter who is genuinely affected, we are on contractor's forum and you are getting uppity about it. So lets look at your use case first. Your dividend loophole was closed, and its not retrospective. So why all this protest?

i was just reminding you that there are more people than bos contractors who pay themselves dividends, wasn't a protest... i'm all for it in the eyes of fairness (hence me not signing the petition)

[northernladuk]

Doesnt matter who is genuinely affected, we are on contractor's forum and you are getting uppity about it. So lets look at your use case first. Your dividend loophole was closed, and its not retrospective. So why all this protest?

Erm, I think people have the right to get a bit narked when they get hit with a 2k tax bill out of the blue.....

And it's not just this, its the T&S and IR35 issues (and possibly the BTL'ers). Some people are going to be quite understandably upset.