New dividend tax: how it works
Margaret Thatcher would be turning in her grave. The government are telling us on one hand that small businesses are the backbone of the economic recovery, and on the other they are piling more tax on the very people that they expect to deliver this growth.
I’ve run a limited company since 1998 and like most of the people I know who do the same, we work many more hours than most people. We have to take risks to grow our business, we have to be experts in finance, sales, marketing, management, HR, and operations. We don’t have employee benefits like pensions, health care, company cars, holidays, sick days, sick pay, and more. I’m not complaining as if I didn’t enjoy being my own boss I’d just get a job, however there are very few rewards for all that effort other than slightly lower taxes on dividends. Not any more!
I have many friends that run small businesses and few of them are well informed on the tax changes coming into effect in a few weeks so here’s a great article in the Telegraph that outlines these changes http://www.telegraph.co.uk/finance/personalfinance/investing/shares/11737430/New-dividend-tax-how-it-works-and-how-to-avoid-it.html
If you have 2 minutes please sign this petition http://petition.parliament.uk/petitions/106525 I don’t think it will make a big difference but it’s at least a statement we are angry about this.