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Petition to get the gov to reconsider the dividend tax changes

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  • Zero Liability
    replied
    Originally posted by AtW View Post
    What's really insulting is that this sort of behavior is expected from Labour, but supposedly Conservative Chancellor outdone them, all hoping that the working man will vote for him in 2020.
    Yup, and in a subtle way where he actually gave away next to nothing.

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  • mudskipper
    replied
    Well they were unlikely to say, "Oh gosh, we thought you'd like the tax - of course we'll revoke it immediately."

    If they want to discourage TMI, then I'd prefer them to reduce Employer's NI rather than corp Tax - but as you pointed out, big businesses don't pay corp tax.

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  • AtW
    replied
    "All direct taxes were abolished in 1974; the DPRK thus became the first country in the world to abolish income taxes collected from its citizens."

    "All foreign-invested enterprises are subject to income, property, turnover, and local taxes. In the four special economic zones established by the government, one in 1991 and three in 2002, the tax on profits for most enterprises is set at 14%; for enterprises involving high technology, infrastructure construction, or light industry, the tax rate is 10%. Resident aliens in the DPRK must pay personal income taxes; the rate varies from 4% to a top rate of 20%. "

    Taxation - Korea, Democratic People's Republic of (DPRK) - infrastructure

    Top rate of 20%!!!

    So the philosophical question is this - at what point taxation in this country would make life indistinguishable from DPRK?
    Last edited by AtW; 25 September 2015, 02:18.

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  • MarillionFan
    replied
    Originally posted by AtW View Post
    What's really insulting is that this sort of behavior is expected from Labour, but supposedly Conservative Chancellor outdone them, all hoping that the working man will vote for him in 2020.
    A perfect storm.

    Pensions
    Dividends
    BTL
    T&E

    The only thing for the clever business man is to now use their pension to buy their own premises and overpay rent into their own SIPP which in turn reduces their profits and in a few years can take it all out tax free.

    Just saying like ;-)

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  • MarillionFan
    replied
    Originally posted by AtW View Post
    Can't afford it mate, I have to work now twice as hard to afford this sort of taxation
    Sell your company and take entrepeneurs relief before blowing it all on business class flights and champagne!

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  • AtW
    replied
    What's really insulting is that this sort of behavior is expected from Labour, but supposedly Conservative Chancellor outdone them, all hoping that the working man will vote for him in 2020.

    Leave a comment:


  • AtW
    replied
    Gideon certainly taxed far more than Ed Balls planned - 50% tax return, and cancelled 1% drop in corp tax with possible increase a bit later (which I think they would not have done soon to show how pro business they are).

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  • AtW
    replied
    Originally posted by MarillionFan View Post
    Go to bed, no-one is on CUK at this time.
    Can't afford it mate, I have to work now twice as hard to afford this sort of taxation

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  • AtW
    replied
    How much worse can it possibly be under Korbyn?

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  • MarillionFan
    replied
    Originally posted by AtW View Post
    Well, the Govt has answered the petition -



    So, essentially they are saying that reducing Corp Tax very slowly over period of 5 years was just a con, so they had to increase tax on same money lower down the chain and increase much more than they reduced Corp Tax.

    It's particularly BAD deal for small companies with under 300k profits - they had small profits rate kept at the same level, so with dividends tax there is a massive hike on SMALL companies.

    Medium UK companies are also shafted because they won't be quoted on stock exchange and their shareholders are likely to be local UK residents.

    Very big multinationals don't pay corp tax anyway, but they will grateful for reduction to 18%. Big shareholders on those could be from abroad (or use offshore vehicle to own shares), so dividend tax does not affect them.

    Can't believe I voted for those

    P.S. It's particularly amusing to see how they tout increase of personal allowance (which resulted in reduction in high rate threshold), and for those getting over £100k it just means their 60% tax level will last longer.

    P.P.S. It was MUCH better under Labour with 28% corp tax and 40% income tax rate level dividend tax, thanks Tory Scum.
    Go to bed, no-one is on CUK at this time.

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