CrazyDave Posted January 9 Share Posted January 9 2 minutes ago, Passing Time said: Start by reducing the number of mhk’s and mlc’s. Make the salary more attractive to attract the ruthless bastards needed Reduce the number to what? How small a clique do you want to make it who can dictate what the rest of us do? Any less than we have now is a very scary proposition indeed. 1 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted January 9 Share Posted January 9 2 minutes ago, Passing Time said: Start by reducing the number of mhk’s and mlc’s. Make the salary more attractive to attract the ruthless bastards needed Don't think that would work...you need a sensible majority, otherwise 5 wally's could take control...good or bad. 1 Quote Link to comment Share on other sites More sharing options...
Passing Time Posted January 9 Share Posted January 9 Just now, Albert Tatlock said: Don't think that would work...you need a sensible majority, otherwise 5 wally's could take control...good or bad. Could work but would require a proper process to weed out potential wallies 1 Quote Link to comment Share on other sites More sharing options...
Dirty Buggane Posted January 9 Author Share Posted January 9 Don't know about wallies,but what we seem to have is Legco which is 11 wankers and a chief wanker 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 9 Share Posted January 9 1 hour ago, NoTail said: Closing the NI/dividend loophole? Go down like a lead balloon in a tax haven. Unless they found a crafty way to make it just for local trading businesses. Quote Link to comment Share on other sites More sharing options...
woolley Posted January 9 Share Posted January 9 1 hour ago, Non-Believer said: It's another problem; they don't dare touch any of the little "bonuses" that make us attractive to "those" able to exploit them for fear of also losing "those". No NI on dividends isn't a bonus peculiar to us though. It's the same in the UK despite them making noises about changing it when the Covid bailouts were happening. All gone quiet since. No way we do it without the UK, and even then rather unlikely. Quote Link to comment Share on other sites More sharing options...
Gladys Posted January 9 Share Posted January 9 1 hour ago, NoTail said: Closing the NI/dividend loophole? What is this loophole? Do you mean paying divis to directors rather than a direct salary? Quote Link to comment Share on other sites More sharing options...
Gladys Posted January 9 Share Posted January 9 2 minutes ago, woolley said: No NI on dividends isn't a bonus peculiar to us though. It's the same in the UK despite them making noises about changing it when the Covid bailouts were happening. All gone quiet since. No way we do it without the UK, and even then rather unlikely. Isn't the issue that NI is taken on wages/salaries rather than investment income, which is what dividends are? 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 9 Share Posted January 9 (edited) 6 minutes ago, Gladys said: Isn't the issue that NI is taken on wages/salaries rather than investment income, which is what dividends are? More that remuneration is taken as dividends RATHER than as salaries by company owners. It's pretty much a no brainer as a company shareholder to pay yourself a small salary for NI purposes and take the rest in dividends. If you don't, you will cop for NI employee AND employer contributions for yourself - a voluntary tax of about 23.8% up to £50k and £12.8% on everything above that in addition to income tax. Edited January 9 by woolley Quote Link to comment Share on other sites More sharing options...
Jarndyce Posted January 9 Share Posted January 9 1 hour ago, Albert Tatlock said: 1 hour ago, Passing Time said: Start by reducing the number of mhk’s and mlc’s. Make the salary more attractive to attract the ruthless bastards needed Don't think that would work...you need a sensible majority, otherwise 5 wally's could take control...good or bad Isn’t that COMIN? More or less? Quote Link to comment Share on other sites More sharing options...
Gladys Posted January 9 Share Posted January 9 21 minutes ago, woolley said: More that remuneration is taken as dividends RATHER than as salaries by company owners. It's pretty much a no brainer as a company shareholder to pay yourself a small salary for NI purposes and take the rest in dividends. If you don't, you will cop for NI employee AND employer contributions for yourself - a voluntary tax of about 23.8% up to £50k and £12.8% on everything above that in addition to income tax. That was my point really. So, either the rules are changed so that director/shareholders are subject to NI on any dividend distributions up to the threshold, or to require that a commercially sustainable contract is in place to justify reward via dividend rather than salary to director/shareholders. Quote Link to comment Share on other sites More sharing options...
woolley Posted January 9 Share Posted January 9 3 minutes ago, Gladys said: That was my point really. So, either the rules are changed so that director/shareholders are subject to NI on any dividend distributions up to the threshold, or to require that a commercially sustainable contract is in place to justify reward via dividend rather than salary to director/shareholders. That's gonna frighten the horses. Quote Link to comment Share on other sites More sharing options...
wrighty Posted January 9 Share Posted January 9 45 minutes ago, Gladys said: Isn't the issue that NI is taken on wages/salaries rather than investment income, which is what dividends are? Simplify! Combine tax and NI, and charge it on all income - earned and unearned, pre- and post-retirement. 2 Quote Link to comment Share on other sites More sharing options...
woolley Posted January 9 Share Posted January 9 3 minutes ago, wrighty said: Simplify! Combine tax and NI, and charge it on all income - earned and unearned, pre- and post-retirement. A brave decision, minister. 2 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted January 10 Share Posted January 10 45 minutes ago, Jarndyce said: Isn’t that COMIN? More or less? Yes currently...where the others just lay back and take all those decisions... taking the King's shilling. Quote Link to comment Share on other sites More sharing options...
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