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Campaigners urge Chancellor to abolish tax on directors’ dividends

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A campaign to abolish tax on directors’ dividends has attracted 25,000 signatories and aims to attract the support of 100,000 business leaders. Serena Humphrey, owner of Nottingham-based financial training company The F Word, launched the campaign in September. She says: “With other changes coming into effect, such as auto-enrolment, a 10% increase in the minimum wage, the 3.5% insurance premium tax increase and the imminent interest rate rises, this dividend tax is an attack too far on small businesses. Those profits have already been taxed at 20%, so this 7.5% tax means we’re paying 27.5%, well above the basic rate.”

Source:  The Mail on Sunday (04/10/2015)

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Author: ABS & Co Accountants Ltd

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