Reply to: Excluded - final throw of the dice

[AtW]

taxable if/when they take it out of the company as income and dividends! .

Can’t use loan to pay dividends...

[GigiBronz]

I reckon these bounce back loans and top ups will lead to a huge wave of insolvencies in a few years, when it dawns on some directors that it isn't "free money" but taxable if/when they take it out of the company as income and dividends!

At least, I presume it is taxable (assuming the director goes over their annual allowance).

A good part of Russell 3000 is barely servicing it’s loans, what the pesky odd small business would mean for the country... who knows. Probably not much.

How I see it, they wanted to keep people happy so they bought the silence of employees and self employed etc.
Small business owners can’t cause too much damage to the ecosystem(as opposed to large business owners who received good aid) and are fairly used to how the world works, so they were left to their own means.

It was never a question of fairness, pretty much everything of capitaism is the opposite of what it says on the can.

[OwlHoot]

I reckon these bounce back loans and top ups will lead to a huge wave of insolvencies in a few years, when it dawns on some directors that it isn't "free money" but taxable if/when they take it out of the company as income and dividends!

At least, I presume it is taxable (assuming the director goes over their annual allowance).

[GhostofTarbera]

Classic today


https://twitter.com/gmb/status/1331887901248983045?s=12

Chancellor puts it to bed once and for all


Sent from my iPhone using Contractor UK Forum

[jamesbrown]

As I said - Sir Keith will be cutting taxes...

[AtW]

Subscribe to read | Financial Times

As I said - Sir Keith will be cutting taxes...

[jamesbrown]

Subscribe to read | Financial Times

[SueEllen]

Six suicides in the Excluded UK group within the last week.

[AtW]

The Guardian is worried that Tory scum will tax “the rich” before Labour gets there, so that there won’t be easy wins for Labour

[jamesbrown]

[AtW]

Maybe they'll u-turn on VAT/income tax/NI afterall.

[jamesbrown]

The message for the "excluded" was something about quit yer whining.

Cutting overseas aid, freezing ps pay.

Maybe they'll u-turn on VAT/income tax/NI afterall.

[AtW]

I doubt it will. Scotland is gone, one way or another, on some timeframe or another, which means no more Labour gov'ts in England until they completely reinvent themselves and eliminate most of the lefties.

Once Labour understands they will never win they will support removal of Mor Onic FPTP electoral system.

[jamesbrown]

If he's canny he will change the union to give the Scottish, Welsh and NI more say. Then the IndyRef will fail.

I doubt it will. Scotland is gone, one way or another, on some timeframe or another, which means no more Labour gov'ts in England until they completely reinvent themselves and eliminate most of the lefties.

[AtW]

And Scotland may gain more residents...

... who will be much more likely to want to rejoin EU...

We’ll know it’s a done deal when ministrone votes Yes