Chancellor ignores Ltd company directors again....

[elsergiovolador]

No it doesn't and no it couldn't. You really are bat tulip crazy.

Care to elaborate?

[WTFH]

Care to elaborate?

It's not the same % tax.
It's not based on the same rules.

Tell me, how long have you been running a business?

[rootsnall]

It would be a rubbish question if dividend tax was ring-fenced, but it is not. So the situation is that a person that pays tax with one label gets different treatment from a person paying the same tax with another label.

This creates a situation where one pound is not equal one pound and could uproot our currency.

PAYE workers have been paying tax under the NI label, Ltd Co contractors haven't, and I think that currently has them in the Richard Branson camp.

[elsergiovolador]

It's not the same % tax.
It's not based on the same rules.

Tell me, how long have you been running a business?

I am looking at the amount of money paid to the taxman. Sure you can have lower %, but higher fee so tax yield is the same or higher.

The % is used for deception, so that dishonest politicians can claim: look! this entrepreneur pays 5% less tax than you for doing the same job!
But the fact is that the entrepreneur pays much more, even if % is lower.

I am not going to brag how long I've been doing this.

[vwdan]

I am looking at the amount of money paid to the taxman. Sure you can have lower %, but higher fee so tax yield is the same or higher.

The % is used for deception, so that dishonest politicians can claim: look! this entrepreneur pays 5% less tax than you for doing the same job!
But the fact is that the entrepreneur pays much more, even if % is lower.

I am not going to brag how long I've been doing this.

Mods, can we just bin this dullard?

[jamesbrown]

I am looking at the amount of money paid to the taxman. Sure you can have lower %, but higher fee so tax yield is the same or higher.

The % is used for deception, so that dishonest politicians can claim: look! this entrepreneur pays 5% less tax than you for doing the same job!
But the fact is that the entrepreneur pays much more, even if % is lower.

I am not going to brag how long I've been doing this.

Inneresting.

[GJABS]

It would be a rubbish question if dividend tax was ring-fenced, but it is not. So the situation is that a person that pays tax with one label gets different treatment from a person paying the same tax with another label.

Just because dividend tax, or NI, is not ring-fenced by statute, does not mean politicians cannot regard them to be so informally.
The word "national insurance" does suggest "insurance". Maybe the job retention scheme is an example of this insurance (finally) starting to pay out.

[DoctorStrangelove]

Dear Deity, an insurance scheme paying out?

Surely that's against all the rules of insurance.

[pjt]

Dear Deity, an insurance scheme paying out?

Surely that's against all the rules of insurance.

Nope the problem is when you claim your policy skyrockets the next year! Who's looking forward to record breaking tax bills over the next few years?

[elsergiovolador]

Just because dividend tax, or NI, is not ring-fenced by statute, does not mean politicians cannot regard them to be so informally.
The word "national insurance" does suggest "insurance". Maybe the job retention scheme is an example of this insurance (finally) starting to pay out.

That label is meaningless. It has not been an insurance for a long time. It is however a great tool for dishonest politicians to divide people. When people are going to be angry at each other, they will not see how they are being shafted in the background.