Thousands sign petition against new dividend tax

A petition against the new dividend tax has been launched by an entrepreneur.

Frauke Golding says she wants the government to reconsider the incoming tax because it “flies in the face of [the] risk and reward” of running a business.  

 “Life as a business owner means very long hours, low pay, stress, no holiday or sick pay and a life of uncertainty and worry,” says her petition, posted online.

“There is a real danger that this new tax…will have a significant effect on those people brave enough to start up a business that could make a meaningful contribution to the economy”.

She also seems to suggest that the new levy, due to hit dividends from April 2016, is at odds with the government’s other policies.

“The government have stated that business is going to be at the heart of their programme for the next 5 years,” points out Golding, who runs her own limited company.

“Small businesses make up 99.3% of all private sector businesses and we provide just under 50% of all private sector jobs.”

The government must respond to the petition if it attracts 10,000 signatures, and consider a parliamentary debate if it attracts 100,000. Open until February, it currently has about 4,400.

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Written by Simon Moore

Simon writes impartial news and engaging features for the contractor industry, covering, IR35, the loan charge and general tax and legislation.
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