Well, they had already lost me with their mad desire for Brexageddon max.
Taxing the smallest of businesses rather than the biggest is just a nice little adios to me. Our problem isn't the NI increase, it's the fact that once I'm past my tax free allowance plus £2K I'm now immediately taxed at nearly top tax rate percentage. We're limited, so the company pays corporation tax of 20% and we now pay tax on the money we take out as well as that 20%.
We've created four well-paid jobs, soon to be five, we've sunk every last pound of our savings into a business and we can finally draw some money out of it but we're being taxed at the same rate as millionaires.
Vin
Taxing the smallest of businesses rather than the biggest is just a nice little adios to me. Our problem isn't the NI increase, it's the fact that once I'm past my tax free allowance plus £2K I'm now immediately taxed at nearly top tax rate percentage. We're limited, so the company pays corporation tax of 20% and we now pay tax on the money we take out as well as that 20%.
We've created four well-paid jobs, soon to be five, we've sunk every last pound of our savings into a business and we can finally draw some money out of it but we're being taxed at the same rate as millionaires.
Vin