You're not working people

[ChimpMaster]

Surprised to not see a thread about this here but I might have missed it as haven't been here in a while. I'm going to take a punt that Labour believe IT contractors are not working people, because they are directors and get paid with dividends.

So the easiest way for Labour to steal from them is to add employee NI to dividends. Job done.

I'm not longer a contractor but am a permie + a landlord + investor. Looking forward to getting very screwed over, of course.

Apologies if a thread already exists on this topic.

[Fraidycat]

First lets normalise dividend tax rates.

• 8.75% for basic rate taxpayers becomes 20%
• 33.75% for higher rate taxpayers becomes 40%
• 39.35% for additional rate taxpayers becomes 45%

Then we can think about slapping both employee and employer NI on to dividends as well.

[escapeUK]

First lets normalise dividend tax rates.

• 8.75% for basic rate taxpayers becomes 20%
• 33.75% for higher rate taxpayers becomes 40%
• 39.35% for additional rate taxpayers becomes 45%

Then we can think about slapping both employee and employer NI on to dividends as well.

Dividends are paid out of already taxed profit, 19% already stolen. Then a further 8.75%. That is far more tax than should be paid! I would never dream of paying 33.75% having already paid 19%. That would mean out of every £100, I'd only get £53.66. Any excess can be retained in my business accounts indefinitely until its favorable to slowly remove it.

Lets not forget dividends are paid to investors, many of whom rely on this as income. Should they take all the risk and the government take a huge chunk? How many will think, nope and sell up crashing the stock market and move it into a simple interest account with no risk. They might even move it into an ISA, assuming the commies don't get rid of those too.

There has been so much speculation of what punitive taxes a government with zero mandate might impose on us. I am looking forward to finding out the full disgusting horror so we everyone can stop speculating and start planning how to remove them. It takes just 1 in 10 of constituents to remove an MP and trigger a by-election. That wont take much effort the way they are going.

[NotAllThere]

Dividends are paid out of already taxed profit, 19% already stolen. Then a further 8.75%. That is far more tax than should be paid! I would never dream of paying 33.75% having already paid 19%. That would mean out of every £100, I'd only get £53.66. Any excess can be retained in my business accounts indefinitely until its favorable to slowly remove it.

Lets not forget dividends are paid to investors, many of whom rely on this as income. Should they take all the risk and the government take a huge chunk?

Few countries in Europe don't tax dividend income. Yes somehow the economies survive.

[WTFH]

It sounds a bit like some one-man companies don’t understand the difference between a business, its money and taxes and their personal money and taxes.
It’s a bit like saying someone is “Middle class” when their income is 3-4x the national average, the tax they pay is less than 3-4x the national average, and they lack any kind of class.

[courtg9000]

om tempted to go to another country and try and claim assylum from an oppresive tax regieme

[DoctorStrangelove]

It's lucky the tosser never experienced taxes in the 1970s or he'd have a conniption fit. Whatever one of those is.

[Ketto]

It takes just 1 in 10 of constituents to remove an MP and trigger a by-election. That wont take much effort the way they are going.

They also need to have been convicted of a criminal offence, suspended from the commons for more than ten sitting days or convicted for a breach of parliamentary standards. Can’t just get rid of them because you don’t agree with tax policy.

[escapeUK]

They also need to have been convicted of a criminal offence, suspended from the commons for more than ten sitting days or convicted for a breach of parliamentary standards. Can’t just get rid of them because you don’t agree with tax policy.

That's awesome. “Those who make peaceful revolution impossible will make violent revolution inevitable."

[Snooky]

Dividends are paid out of already taxed profit, 19% already stolen

That tells me everything I need to know about your attitude to tax. The sooner you do escape, the better for us.