Labour small business tax nightmare - not just taxing people earning over £80k!

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  • Hi,

    New member and looking to find more info on the Labour manifesto.

    I've got a small ltd company business making about £40k a year and looking at the proposals for changes by jolly Jeremy this is likely to cost me and other people in my position about £3,300 a year in extra tax per year!

    This is an increase of nearly 50% in my current tax. wtf? They are saying only people earning over £80k will be taxed?

    I've not heard or seen anything about this in the media?

    Has anyone else got wind of this?

  • It's not only small businesses who will pay more

    "General election 2019: Corbyn concedes lower earners could pay more tax"

    We all know that under Labour we would pay more in tax, even the very poorest paid. Those who remember the 70s will know this only too well

    Not only that but Labour will impose even more laws to hit small businesses hard or drive them put of business such as extended maternity leave, four day working week, and so on without recognising the impossibility this imposes

    A Hand Up Not A Hand Out

  • I always thought it it sounded crap only taxing the £80k+ earners but I had a message from my accountant explaining this earlier and I couldn't believe it.

    Apparently someone earning £80k will see their tax bill go up by about 32%, so the biggest increase is actually on lower earners.

    Crazy bastards. How do they expect normal working people to vote for them doing this?

    Got to day, I'm now just hoping Boris doesn't totally fuck up on the the next Andrew Neill interview!

  • If Labour follow previous form, all those in public services will get massive wage increases to offset the greater tax burden, which in turn adds to the tax burden of everyone else.

    Mark Twain — 'Never argue with an idiot. They will drag you down to their level and beat you with experience.'

  • Has anyone else got wind of this?

    Not had a chance yet to read their proposals, but I hopefully Labour have little chance of getting in with all the controversy surroudning Corbyn, so I wouldn't worry about it unless it actually happens and they win.

    Public welcome from me. :)

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  • Latest poll I saw has them gaining ground - I assume the prospect of free everything will unfortunately motivate a lot of people in his direction...

  • Perhaps the young and foolish, but not many others, especially with his "neutral" stance on Brexit.

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  • I have "speed read" the Manifesto and I see good stuff protecting Small Business. However, if the economy can not flourish because of government control there may not be a playing field for growth.

  • what things are protecting small business exactly?

    He stated he will introduce very strict controls/support to ensure small businesses are paid their due bills from other businesses with penalties for those that do not pay up within a certain time. There is more in the manifesto. Just put Labour manifesto into google and scroll through it.

  • I would trust Corbyn as far I could comfortably spit out a rat.

    A socialist extreme government as Corbyn and his cronies seem to want would destroy this country for a generation.

    History is much like an Endless Waltz. The three beats of war, peace and revolution continue on forever.


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