Dividends beyond £5k taxed wef 2016!!

[d000hg]

What about normal contractors that take £100k divs

It's about time they paid a sensible amount of tax, that's what!

[BrilloPad]

I had to look at the link as I thought that was the one where every forum post depends until someone compares someone else to Hitler

:nazi:

[AtW]

Fooking prawns.

Will vote pro-business Nu Nu Liebor next time...

[tractor]

....

It's about time they paid a sensible amount of tax, that's what!

The rate of tax for contractors is sensible.

It is the rate that others pay which is ludicrous. Look at where your money goes.

Except bankers and agents of course, they should pay 98% on everything.

[DaveB]

I had to look at the link as I thought that was the one where every forum post depends until someone compares someone else to Hitler

https://en.wikipedia.org/wiki/Godwin's_law

[Unix]

It's about time they paid a sensible amount of tax, that's what!

How insensitive, there are contractors here who might have to sell the 2nd Porsche.

[BrilloPad]

Fooking prawns.

Will vote pro-business Nu Nu Liebor next time...

First Sallyanne. Then AtW.

Who next? sasguru? AndyW?

[Unix]

First Sallyanne. Then AtW.

Who next? sasguru? AndyW?

kandr? russell?

[psychocandy]

So let me get this right. Assuming neither of you breach the 40% limit....

At the moment, no additional tax due because its credited and covered by CT at 20%. So £5K still the same but 7.5% personal tax on anything above?

So, example, income split, 10K salary, and 30K each in dividends.

So now we'd each pay an extra 7.5% on £25K each of this? £1875 per year each. Still £3700 less per year in pocket. Not cool.

Of course, paying CT at 19% would cut this down a bit. As would the NI thing.

Not happy Mr C. Looks like hes found a way to claw some money back from us.....

Suppose cant complain we've had it good for so long.

So when does this come in?

[PerfectStorm]

So let me get this right. Assuming neither of you breach the 40% limit....

At the moment, no additional tax due because its credited and covered by CT at 20%. So £5K still the same but 7.5% personal tax on anything above?

So, example, income split, 10K salary, and 30K each in dividends.

So now we'd each pay an extra 7.5% on £25K each of this? £1875 per year each. Still £3700 less per year in pocket. Not cool.

Of course, paying CT at 19% would cut this down a bit. As would the NI thing.

Not happy Mr C. Looks like hes found a way to claw some money back from us.....

Suppose cant complain we've had it good for so long.

So when does this come in?

You forget the 10,600, 11,000 and 12,500 personal allowances for various years, and the lift of the higher rate from 42385 to 43000 up to 50,000 eventually

Can't wait for someone to do some real calculations on this.