There is precious little benefit in running a small company, employing people, acting as an unpaid tax collector for PAYE NIC CT. Next we are to be unpaid pensions administrators due to Auto enrolment. Removing one of the last main benefits hardly makes you want to set up a new business venture!
S
Sarah Clarkson
11 years ago
I thought this government were going to put effort into catching those who illegally evade paying tax or those who are involved in aggressive tax schemes. Together they account for about 10% lost in revenue. Instead it is the same old story - smack a big increase on those already committed to paying taxes fairly because they are an easy target.
A
Anonymous
11 years ago
Unfair double tax on small enterprises. That will teach those who voted for this nasty party who just awarded themselves 10% pay rise!..
J
James Rouse
11 years ago
Destroys the previous (small) incentive to set up a new business, short termism from the party that supposedly is on side of private enterprise.
A
Alan Smith
11 years ago
Double taxation on risk takers from a Tory chancellor, did not see it coming!
P
Paul Cullen FCA
11 years ago
This is, so far, a stealth tax for so many and if not stopped will cause a very significant backlash when the country's risk takers find they have yet another burden on their already weighed down shoulders. My child benefit has been stolen and George Osborne wants to add 4.4% to my income tax rate and guess what..... that ain't what I voted for and is a direct attack on intelligent middle Britain. In the fullness of time , as with any tax increase, government coffers will suffer.
A
Anonymous
11 years ago
It is called hitting the easy target. Unlike certain large corporations we could all name.
A
Anonymous
11 years ago
Just completed my first year of trading and could have really done without this spanner in the works for next year.
W
Warren Shute
11 years ago
suppport business growth!
R
Robert Dabin
11 years ago
Disgusting
A
Anonymous
11 years ago
Hope this gets through to help small business owners
N
Nigel Feetham
11 years ago
With the unprecedented increase in small businesses the last few years, many coming from the previously unemployed & working on a fine profit margin. I think the effect of another tax hike will leave a lot of small companies, to either increase costs to clients !! (if they will stand it) or cease trading .
Overall effect of this double tax will be inflationary, create unemployment & or tax avoidance.
K
Kevin Scott
11 years ago
Surely more tax on the owners will broadly result in reductions in staffing. So what the treasury gets from the owners it will not get from employees PAYE and the economy will grow less quickly.
H
Hilary Hart
11 years ago
7.5% is way too high as a basic rate. HMG needs to reduce the rate or keep the basic rate at 0%. Otherwise two effects will result. One to inflict a disproportionately big additional (double) tax on myriad small businesses that make up the fabric of our economy. Two, -because businesses perceive this 'double' tax as so unfair - almost a vendetta against small business owners- small companies will work more aggressively to identify further expenses that they didn't currently bother to claim so they can reduce their Corp Tax bill and thereby negate the overall effect. If number two occurs, then this entire exercise will have been a complete waste of time for the Exchequer.
C
Callie Carling
11 years ago
It really doesn't pay to work hard, which is utterly nonsensical. This budget is a real kick-in-the-teeth to hardworking small business owners.
A
Anthony Chambers
11 years ago
Looks like I'll have to start fiddling my expenses too, in order to offset this extra tax.
M
Martin Sans
11 years ago
Outrageous behaviour by this Government. Perhaps Labour would have been a better bet after all!! This lot are no better than the backtracking Lib Dems
N
Nick Pulley
11 years ago
A true kick in the teeth for all the small business owners that have helped the UK come out of the recession with such a postitive outlook to the years ahead. This is not the closing of a 'tax loophole', this is punishing the very people that have kept the UK in work. Shame on you.
T
Tom Brandon
11 years ago
This proves the lie that the Tories are the party of business - they are the party of multinational businesses that donate huge sums to their coffers to jointly make policies that suit their interests via a revolving door at Whitehall which might as well have a brass plaque above it saying "Sponsored by pwc".
There is precious little benefit in running a small company, employing people, acting as an unpaid tax collector for PAYE NIC CT. Next we are to be unpaid pensions administrators due to Auto enrolment. Removing one of the last main benefits hardly makes you want to set up a new business venture!
I thought this government were going to put effort into catching those who illegally evade paying tax or those who are involved in aggressive tax schemes. Together they account for about 10% lost in revenue. Instead it is the same old story - smack a big increase on those already committed to paying taxes fairly because they are an easy target.
Unfair double tax on small enterprises. That will teach those who voted for this nasty party who just awarded themselves 10% pay rise!..
Destroys the previous (small) incentive to set up a new business, short termism from the party that supposedly is on side of private enterprise.
Double taxation on risk takers from a Tory chancellor, did not see it coming!
This is, so far, a stealth tax for so many and if not stopped will cause a very significant backlash when the country's risk takers find they have yet another burden on their already weighed down shoulders. My child benefit has been stolen and George Osborne wants to add 4.4% to my income tax rate and guess what..... that ain't what I voted for and is a direct attack on intelligent middle Britain. In the fullness of time , as with any tax increase, government coffers will suffer.
It is called hitting the easy target. Unlike certain large corporations we could all name.
Just completed my first year of trading and could have really done without this spanner in the works for next year.
suppport business growth!
Disgusting
Hope this gets through to help small business owners
With the unprecedented increase in small businesses the last few years, many coming from the previously unemployed & working on a fine profit margin. I think the effect of another tax hike will leave a lot of small companies, to either increase costs to clients !! (if they will stand it) or cease trading . Overall effect of this double tax will be inflationary, create unemployment & or tax avoidance.
Surely more tax on the owners will broadly result in reductions in staffing. So what the treasury gets from the owners it will not get from employees PAYE and the economy will grow less quickly.
7.5% is way too high as a basic rate. HMG needs to reduce the rate or keep the basic rate at 0%. Otherwise two effects will result. One to inflict a disproportionately big additional (double) tax on myriad small businesses that make up the fabric of our economy. Two, -because businesses perceive this 'double' tax as so unfair - almost a vendetta against small business owners- small companies will work more aggressively to identify further expenses that they didn't currently bother to claim so they can reduce their Corp Tax bill and thereby negate the overall effect. If number two occurs, then this entire exercise will have been a complete waste of time for the Exchequer.
It really doesn't pay to work hard, which is utterly nonsensical. This budget is a real kick-in-the-teeth to hardworking small business owners.
Looks like I'll have to start fiddling my expenses too, in order to offset this extra tax.
Outrageous behaviour by this Government. Perhaps Labour would have been a better bet after all!! This lot are no better than the backtracking Lib Dems
A true kick in the teeth for all the small business owners that have helped the UK come out of the recession with such a postitive outlook to the years ahead. This is not the closing of a 'tax loophole', this is punishing the very people that have kept the UK in work. Shame on you.
This proves the lie that the Tories are the party of business - they are the party of multinational businesses that donate huge sums to their coffers to jointly make policies that suit their interests via a revolving door at Whitehall which might as well have a brass plaque above it saying "Sponsored by pwc".
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