An entrepreneur has launched a petition against the new dividend tax that is likely to affect many contractors and freelancers operating within limited companies. The petition is open until the 24th February 2016 and currently has over 8,000 signatures.
The government are required to respond to a petition if it gains over 10,000 signatures and must consider a parliamentary debate if the petition receives over 100,000 supporters.
Many individuals believe the government should reconsider the new tax as this is a reward given to those who run the risk of owning a business. In the petition, it states:
“Life as a business owner means very long hours, low pay, stress, no holiday or sick pay and a life of uncertainty and worry.”
It further describes that there is a ‘real danger’ in the proposed tax, it continues:
“The tax will have a significant effect on those people brave enough to start up a business that could make a meaningful contribution to the economy.
The entrepreneur who started the petition, Frauke Golding, runs her own limited company and comments:
“The government have stated that business is going to be at the heart of their programme for the next 5 years.”
Small businesses currently make up 99.3% of all private sector businesses and provide almost 50% of all private sector jobs.”
If you want to support Frauke and oppose the new dividend tax, sign the petition here.
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