Originally posted by Zero Liability
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Official Summer 2015 Budget Thread
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LOL @ all the people here upset by todays budget. Contractors go from having a great deal to 98% of the same great deal.⭐️ Gold Star ContractorComment
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How do you figure 98%? The new tax structure for dividends alone will make significant (negative) changes to how contractors (or pretty much anyone drawing dividends) remunerate themselves.
Originally posted by AtW View PostIt's good budget for the country, and even better for Osborne to become PM...Comment
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The bit that I find funny is how many contractors feel hurt because
a) the Tories are the party of small business
b) we are small business
Neither is true.Comment
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Originally posted by Zero Liability View PostI bet many people who voted Tory will be wanting a refund. I know I would.
It's safe to say I shan't be voting for them (or Labour, or the LDs), come 2020. Even if the rhetoric sounds good, you can't really stop them from just doing whatever they feel like in the end, other than by not voting them back in.
There is fundamentally no reason why contractors should be able to pay less tax per £ earned than permies, this is a perk of the system not an entitlement.
If you voted for who you thought would enable you to best line your pocket, serves you right.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by Zero Liability View PostI'm sure it's well suited to the latter. The former is a lot more ambiguous.
Apart from the bit that will hit me personally.Comment
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Originally posted by PerfectStorm View PostLOL @ all the people here upset by todays budget. Contractors go from having a great deal to 98% of the same great deal.
Because now that the principle of a separate dividend tax charge is here, it is sure to be a target in future budgets for further increases...
Particularly under any future government with an ideological preference to earned income over investment income. If you doubt this look at 1960s and 1970s were that was at it's most fanatical, with a top tax rate on dividends at 98%! indeedComment
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Originally posted by expat View PostThe bit that I find funny is how many contractors feel hurt because
a) the Tories are the party of small business
b) we are small business
Neither is true.Comment
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Originally posted by electronicfur View PostYou say that now, but in the future you may well come to be upset by today's budget.
Because now that the principle of a separate dividend tax charge is here, it is sure to be a target in future budgets for further increases...
Particularly under any future government with an ideological preference to earned income over investment income. If you doubt this look at 1960s and 1970s were that was at it's most fanatical, with a top tax rate on dividends at 98%! indeed
There is an upper limit - i.e. that point at which we're all better off on PAYE.Comment
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Originally posted by d000hg View PostI don't know why you thought the Tories were the party for contractors. We're a highly paid niche and politics is about the masses.
There is fundamentally no reason why contractors should be able to pay less tax per £ earned than permies, this is a perk of the system not an entitlement.
If you voted for who you thought would enable you to best line your pocket, serves you right.Comment
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