Discussion of the UK Government
:sunglasses: 31.8 % :thumbsup: 9.1 % :grinning: 40.9 % 🧥 2.3 % 😟 9.1 % :cry: 4.5 % :shit: 2.3 %
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
 
By Bones McCoy
Membership Days Membership Days Posts
#624551
Boiler wrote:
Fri Sep 25, 2020 2:21 pm
Bones McCoy wrote:
Fri Sep 25, 2020 1:52 pm
Dividends are a tricky one.
I know a lot of IT contractors who try to put as much money through dividends as possible.
In their case it's a tax efficient decision.
There are probably other workers in much less affluent sectors who are genuinely struggling, so I don't like to be too judgemental.

In this case I have some sympathy with Sunak.
If he starts to compensate for lost dividends, then he'll be liable to every shareholder and investment house in the country.
Before you know it you're doling out compo for lost commercial rents, underperforming house prices, and disappointing scrip-dividends.

It seems to me that our baroque tax regime with all its funny loopholes needs a thorough overhaul.
Paying yourself through dividends is far more common than you think. I'm one of them.
(You may have misread - I may not have made myself clear) in my first paragraph.

I know it's fairly common under Ltd company arrangements.
I can't see a way to to address it without every shareholder wanting a piece of the action.

Hence my conclusion that a simpler tax regime might be beneficial.
 
By Kreuzberger
Membership Days Membership Days Posts
#624564
Surely, if you are playing by the rules, you should be afforded the same cover as anyone else, especially if this is your primary source of income, no?
 
By Tubby Isaacs
Membership Days Membership Days Posts
#624568
Kreuzberger wrote:
Fri Sep 25, 2020 4:18 pm
Surely, if you are playing by the rules, you should be afforded the same cover as anyone else, especially if this is your primary source of income, no?
I think so.

I might even apply the same principle to company tax. If the arrangements are wrong, do something about them. Though I expect I'd change my mind after about the second example of contrived tax arrangements, and be leading the charge myself.
 
By Bones McCoy
Membership Days Membership Days Posts
#624583
Kreuzberger wrote:
Fri Sep 25, 2020 4:18 pm
Surely, if you are playing by the rules, you should be afforded the same cover as anyone else, especially if this is your primary source of income, no?
As I said above, It's a tricky one.
On the one hand you'll have the self employed window cleaner just scraping by.
But if you start compensating for underperforming investments (dividends, after all, are a bonus on your £1.00 investment), then you'll have every red-brace wearing spiv from the square mile lined up for their £billion.

As I said #2, the system is long overdue a fix.
You won't get one with the current bunch at the helm.
For them the system is working very nicely thanks, and as per design.
 
By Kreuzberger
Membership Days Membership Days Posts
#625972
TBH, all these 50-something Mancs roll in to one for me. As did their music. Johnny Marr is probably the only one with degree of stand out.

I might be being unfair.
  • 1
  • 13
  • 14
  • 15
  • 16
  • 17
Anti-Semitism and the Labour party

https://twitter.com/JohnOBrennan2/status/131831500[…]

US election 2020

The Governor of Iowa isn't up for re-election this[…]

Daily Telegraph

Julie should be clearing up on the populist rentag[…]

The Trump Presidency

Ouch. END OUR NATIONAL CRISIS The Case Again[…]