quote from HMRC

[expat]

Anyone have a link for the proposed plan to apply PAYE and National Insurance to dividends?

I told another contractor about this, and he doesn't believe me. (He is currently a Guardian reader, with all that implies, but says if it is true he will switch to the Dail Mail overnight.)

Haven't heard of this, are you perhaps thinking of IR591, small companies no longer getting a 0% tax band on dividends?

Actually it would be quite logical to do this: if NICs go to fund not just one's own unemployment insurance, but the welfare state in general, then there is no reason why one kind of income should be exempt from this while another kind of income is not.

For example, this is more or less the position in France, where the equivalent (Contribution Social Généralisée) is payable on all income. Result: no percentage for you in pretending that your income is dividends, no percentage for the government in forcibly classifying you as an employee, and no IR35!

[The Lone Gunman]

What? That will never work, every business owner and share holder would immediately vote against Labour.

Don't be silly, it will only apply to 1 man Ltds.
Call it IR35 the sequal.

[bobhope]

What I think is highly likely is that they will uncap the employee's national insurance earnings limit - it's currently capped at 33k a year and anything beyond that at 1%.

Would then make the marginal rate of tax = 40 + 11 + 12.8 = 63.8%

Not quite sure why Gordo hasn't done this already really.

[despot]

Gordon "I like the arctic monkeys" Brown as Chancellor was / is the very worst thing that ever happened to this country, after New Labour and Tony Blair, that is. The unrelenting drive to higher taxation from whatever angle possible is driving this country to the very brink.

It's pretty dire when we see the explosive protests that some people are being driven to. I now have to go tear up my daily Guardian!

[ratewhore]

What was the Blair advice? Do not jail prisoners that are not repeat offenders where there is no risk to the public safety.

according to the currant bun today, some bloke got jailed for 9 months for bigamy so it's all a load of bollox really...

[Mailman]

http://www.channelregister.co.uk/200...nce_vat_fraud/

The man behind a £54m VAT fraud gang has been sentenced to 15 years in prison - the longest ever UK sentence for such a crime.

Someone like this SHOULD be imprisoned. Same goes for those 90 year old pensioners too!!

Mailman

[despot]

Imprisoned ... given a knighthood ... who knows? I was reading about some ex-big cheese of Matalan calculated his tax debt to IR and got it wrong by nearly £1m. Staggering. A simple error to make given the number of share options involved. Having coughed up the monies, he subsequently realised his mistake ... and asked the IR to kindly refund him his overpaid taxes.

They were having none of it!! If you make a mistake and overpay, apparently they don't have to give it back to you?

Could that be classed as criminal. Some people might think so. Not me!!

Coming back to the mastermind behind the gang ... I'd say put him in the Dragons Den ... you just know that Bannatyne would go for it!!