• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.

Petition to get the gov to reconsider the dividend tax changes

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #61
    Originally posted by DimPrawn View Post
    I'm in a similar position to you. I sell and rent software as a service. I have spent years part time developing this and now I'm fulltime on it. Suddenly I'm not a proper business anymore and I have to pay more tax that my bigger competitors don't.

    I am going to keep the money in the company, and not pay dividends and cut outgoings to the bone. **** the govt and **** the economy. If it takes off and becomes successful, I will take the business and myself offshore somewhere and ensure UK gov gets **** all of the proceeds.

    Tories are the govt of small business.....s
    Can you explain the extra taxes you are having to pay that larger businesses don't? It's not Corp Tax, it's not VAT... do you have much T&S to claim?

    Or do you mean "I have to pay tax on some of my dividends"? If so, this isn't a cost of doing business that will affect your competition with other businesses.

    Comment


      #62
      Originally posted by d000hg View Post
      For once we're in agreement on something. Voting on a petition is the equivalent of a FaceBook like.
      Are they worth more or less than a CUK like or thank though?
      The greatest trick the devil ever pulled was convincing the world that he didn't exist

      Comment


        #63
        Originally posted by pr1 View Post
        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
        It's obvious that the dividends rate will tend to reach income tax levels. Why should people who have shares (which obviously means they are wealthy) pay less than a working man? So the dividend rates will be 20%, 40% and 45%, possibly 50% under Labour.

        Comment


          #64
          Originally posted by Ticktock View Post
          Can you explain the extra taxes you are having to pay that larger businesses don't? It's not Corp Tax, it's not VAT... do you have much T&S to claim?

          Or do you mean "I have to pay tax on some of my dividends"? If so, this isn't a cost of doing business that will affect your competition with other businesses.
          Large companies employ very aggressive measures to minimise their tax rate. Something that a small company just cannot do.

          For example, lets pretend you start a coffee shop. You buy your beans and cups from a local supplier, sell coffee to the public and pay tax at 18% on the profit.

          If you are an international well funded coffee chain you can do this.

          Buy your beans from a wholly owned subsidiary in a low cost location at a premium rate and therefore minimise your profits whilst effectively shipping the money you take from your customers outside of the country.

          You can also "Rent" your own brand from the same jurisdiction - again cutting down your declared profit.

          And you can base your companies European operations somewhere like Luxembourg or Ireland and declare that to be your primary location whilst deriving 90% of your income from other locations within Europe.

          I know a lawyer who works for a a very well-known US online retailer. She works in Luxembourg apparently. But the funny thing is I see her most days dropping her kids off to school in the Oxfordshire village where I live. Must do a lot of WFH. I wonder where her salary is being paid from?

          Comment


            #65
            Originally posted by VectraMan View Post
            Why no employer's NI? That makes no sense.
            Why the fook business even pays employer's NI??? Business provides JOBS, why the fook should it pay tax on employment??? What the fook exactly is insured by that payment for the business, what's the benefit to the business that fooking employer insurance gives exactly???

            Comment


              #66
              Originally posted by motoukenin View Post
              Cant believe the number of contractors I have spoken to that think the increase in dividend tax is negligible , on 100K dividend its another 6K , approx 30% increase in taxes paid and that's without all of the other things we will be dealing with like increased NI , tax on expenses , etc. etc. thinking of working abroad for a few months and then coming back here to live off the profits and then repeat.
              They'll feel it once they start filling in their tax return in January 2017!

              Comment


                #67
                Originally posted by AtW View Post
                Why the fook business even pays employer's NI??? Business provides JOBS, why the fook should it pay tax on employment??? What the fook exactly is insured by that payment for the business, what's the benefit to the business that fooking employer insurance gives exactly???
                It's a tax on giving people work in the UK. So basically an incentive to get someone overseas to do the work where there's no tax to pay.

                Comment


                  #68
                  Originally posted by DimPrawn View Post
                  Better if each director wrote a letter to their MP and then voted the little **** out at the next election.
                  What should happen is that every director in locality puts some money together to help vote out whoever their current MPs is - does not even matter which party they are on.

                  Comment


                    #69
                    Originally posted by LondonManc View Post
                    Offset it against the Corporation Tax improvements and it's not significant. If you have to now get Tesco Value Caviar tough tulip.
                    What corp tax improvements??? You mean 1% drop from 2017 and 1% drop from April 2020, with May 2020 being the month than Korbyn wins election and puts back corp tax to at least 25%?

                    Given that dividends tax easily increases taxation by 30% then corresponding IMMEDIATE corp tax drop should have been at least 5% to 15%, then, on balance I'd say ummm OK maybe that's all right change.

                    Comment


                      #70
                      Originally posted by DimPrawn View Post
                      It's a tax on giving people work in the UK. So basically an incentive to get someone overseas to do the work where there's no tax to pay.
                      I say it's missold insurance product, time to make class action lawsuit against Govt to return with interest all Employer National INSURANCE contributions since that "insurance" never paid out anything.

                      Comment

                      Working...
                      X