Originally posted by AtW
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Petition to get the gov to reconsider the dividend tax changes
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Originally posted by DimPrawn View PostI'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.
Originally posted by AtW View PostIt's obvious that the dividends rate will tend to reach income tax levels.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by tomtomagain View PostLarge 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
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Originally posted by Ticktock View PostSo, in other words, nothing at all to do with either dividend tax changes, T&S changes, IR35 changes, or anything else new being proposed, nothing at all to do with this thread and nothing at all to do with the discussions being had?
The current dividend benefit allows him to pay himself a decent wage at the same time as growing his small business that one day, just could, rival the bigger business. It rewards him for taking a risk.
Changing the dividend tax takes away that tiny benefit.
Look at your local Coffee shop. Run by a local business man, contributing to his area. He pays tax at 18% on his profits. Starbucks next door ..... well they only declared their first profit in 17 years in the UK this year, due to public pressure. They paid £200k tax on £300M of sales in the UK.
Half a dozen contractors pay more in income tax to HMRC than Starbucks. Is that right? Or fair?Comment
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We're nothing but easy targets, screw small businesses while pandering to the multinationals it's quite sickeningIn Scooter we trustComment
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Originally posted by tomtomagain View PostHalf a dozen contractors pay more in income tax to HMRC than Starbucks. Is that right? Or fair?
Petitions get nowhere and achieve nothing. Apart from giving yourself stress.Comment
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Originally posted by tomtomagain View PostThe point being that Mr-Small-Guy does not have the options open to him to fake a loss that is open to large corporations.
The current dividend benefit allows him to pay himself a decent wage at the same time as growing his small business that one day, just could, rival the bigger business. It rewards him for taking a risk.
Changing the dividend tax takes away that tiny benefit.
Look at your local Coffee shop. Run by a local business man, contributing to his area. He pays tax at 18% on his profits. Starbucks next door ..... well they only declared their first profit in 17 years in the UK this year, due to public pressure. They paid £200k tax on £300M of sales in the UK.
Half a dozen contractors pay more in income tax to HMRC than Starbucks. Is that right? Or fair?Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by tomtomagain View PostThe point being that Mr-Small-Guy does not have the options open to him to fake a loss that is open to large corporations.
The current dividend benefit allows him to pay himself a decent wage at the same time as growing his small business that one day, just could, rival the bigger business. It rewards him for taking a risk.
Changing the dividend tax takes away that tiny benefit.
Look at your local Coffee shop. Run by a local business man, contributing to his area. He pays tax at 18% on his profits. Starbucks next door ..... well they only declared their first profit in 17 years in the UK this year, due to public pressure. They paid £200k tax on £300M of sales in the UK.
Half a dozen contractors pay more in income tax to HMRC than Starbucks. Is that right? Or fair?
"give the little guy a tax break so he at least has a chance to become the big guy and really get his teeth into full blown tax evasion"
starbucks started as the little guy, tooComment
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Originally posted by pr1 View Postso, following your logic:
"give the little guy a tax break so he at least has a chance to become the big guy and really get his teeth into full blown tax evasion"
starbucks started as the little guy, tooComment
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Originally posted by pr1 View Postso, following your logic:
"give the little guy a tax break so he at least has a chance to become the big guy and really get his teeth into full blown tax evasion"
starbucks started as the little guy, tooIn Scooter we trustComment
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