Budget Day - No Need to Worry

[DimPrawn]

I see most of the comments on the BBC webtulipe re the budget are from fuming mad sorts sick to death of high taxes and bulltulip economic figures from Gordon.

Lets hope they vote this shower out at the next election.

[hyperD]

VED... nothing much...

Just listening to Cameron's reply... absolutely grilling Brown... ...

[hyperD]

Rebuking him on pensions.... woohooo!!!

[hyperD]

"He (Brown) is an analogue politician in a digital age... he is the past!" - Cameron

[Numptycorner]

No NI on divis then? Panic over!

[threaded]

Dunno 'bout that yet. What Brownstuff says in Parliament, and what turns up in the reading of the budget doco have been at variance on every occasion.

[expat]

No NI on divis then? Panic over!

There should be. That is the source of the abuse of dividends that has led to IR35. Dividends are supposed to be a return on investment, a reward for providing working capital: not a way of paying yourself part of your income free of some tax.

[DimPrawn]

eh?

[DimPrawn]

NI isn't tax (that's what Gordon tells us) and is levied on PAYE earning where it pays for our pensions and health (that's what Gordon tells us)

Dividends are distribution of company profits to shareholders. Why would it make any logical sense to put NI on them?

[Mailman]

There should be. That is the source of the abuse of dividends that has led to IR35. Dividends are supposed to be a return on investment, a reward for providing working capital: not a way of paying yourself part of your income free of some tax.

IF that was the case then perhaps the government should have paid more attention when they drafted the legislation on taxing dividends at the time..that is of course assuming tax on dividends is derived from legislation!

Mailman