Small Ltd Company Directors to get Government support like the Employed and Self Employed
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There are many many small businesses in the UK who own and operate under a Limited Company. They may earn dividends from their company - which are from all profits already taxed at 19%. But the dividends are taxed by a further 7.5% (or 32.5%) in the self assessment. It looks like these individuals are being excluded from Government help:
“The targeting of it has to be really carefully put together because otherwise there are people who may count themselves and declare themselves as self-employed but are actually getting their income off their dividends of a company.
“So if you don’t do something that is really laser-like targeted then you could end up giving a massive subsidy to some people who don’t actually need it".
If you fall in this category or know people in this category who will not get the support they need during the Coronavirus shutdown - please sign this petition!
When we eventually get back to business, they'll still have to pay their taxes to help recover from this dire situation. Yet they may get nothing when they need it most!
We must also protect these small business owners! They should also be entitled to 80% of their filed average earnings, including dividends which are already taxed! (up to £2500 like the employed and self employed).
UPDATE: Scroll down to find updates on this petition from a group of us who are working to put pressure on the Government through additional actions like emailing our MPs, contacting media and inquiring about legal advice. We'd love you to join the conversation! Look for posts in particular from Amanda Evans, Mike Evers, Victoria McKay and Adrian Silk.
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