Tax rises?

[milanbenes]

it's absolutely true that UK umbrellas and UK agents have no interest in engaging non-UK residents, regardless of whatever anecdote you may have.

panto season upon us already, "oh no it's not",



anyway

it doesn't matter does it

let's get back to the taxes :-)

Milan.

p.s. thanks for the tips on using quotes

[milanbenes]

Next up, we have speculation about dividend tax rates going up, especially the basic rate, from 8.75% to, perhaps, 16.5% or higher.

that's a good one, and as a number, 8.75% in any context just looks too low doesn't it

the good thing about this tax source is it's really sharing the wealth between the haves and the have nots

Milan.

[sadkingbilly]

That really depends on whether you are UK tax resident.

..... yes obviously this is not respective to UK Tax Residency


In any case, many otherwise inside IR35 contracts avoid IR35 by requiring umbrella employment, and no UK umbrella or agent would touch you.

...... that's not true


Plus you have to suffer the indignity of living over there, which is an indignity second only to living in the north of England. *Shudder*.

...... ha ha that's funny


lol

Milan.

yeh, - really funny. - bawbag.

[pjt]

Next up, we have speculation about dividend tax rates going up, especially the basic rate, from 8.75% to, perhaps, 16.5% or higher.

At this rate we'll be better off working inside IR35!

[milanbenes]

At this rate we'll be better off working inside IR35!

that is probably the goal isn't it

Milan.

[jamesbrown]

At this rate we'll be better off working inside IR35!

It will certainly begin to warrant a calculator .

[Protagoras]

At this rate we'll be better off working inside IR35!

None of these measure drive labour market participation.
Retiring / working less is an option for those with the means.

The other option is a senior public sector job with pension benefits and a chance that pay rises will keep up with inflation.

[pjt]

None of these measure drive labour market participation.
Retiring / working less is an option for those with the means.

The other option is a senior public sector job with pension benefits and a chance that pay rises will keep up with inflation.

Generally every year for the past god knows how many years my tax bill rises by a couple hundred quid. Its mental to think back to pre divi tax, VAT changes etc and how much more tax a typical contractor has to pay. Doesn't help if your also a BTL landlord as thats been the same!

[agentzero]

Generally every year for the past god knows how many years my tax bill rises by a couple hundred quid. Its mental to think back to pre divi tax, VAT changes etc and how much more tax a typical contractor has to pay. Doesn't help if your also a BTL landlord as thats been the same!

Outside IR35 ltd co contractors had tax that was far too low for many years. Look back to 2002. Pay in dividends up to the higher rate, income splitting between married partners, pension contributions for both, almost no tax paid. There is no justification for that continuing and I'm glad it was stopped. It made a mockery of the tax system and the concept of paying more tax with scaled earnings.

[malvolio]

Outside IR35 ltd co contractors had tax that was far too low for many years. Look back to 2002. Pay in dividends up to the higher rate, income splitting between married partners, pension contributions for both, almost no tax paid. There is no justification for that continuing and I'm glad it was stopped. It made a mockery of the tax system and the concept of paying more tax with scaled earnings.

If we ignore Corporation Tax, CGT and VAT of course....