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Shout99 - Freelancers, FO35, Section 660
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Budget Flash (1): IR591 = 19% dividend tax
by Susie Hughes at 13:11 17/03/04 (News on IR591)
The waiting and speculation about the form IR591 would take came to an end at 1pm today when Chancellor Gordon Brown outlined in his Budget statement the substance of what to date has only been speculation and how he intends to ensure that small businesses and freelancers 'pay the right amount of tax'.
Small company dividends will be taxed at 19 per cent.

He announced that he will retain the zero per cent tax band for the first 10,000 of profits. His aim is ‘to encourage investment in the business while ensuring that businesses do not avoid tax by taking income as dividends rather than salary.’

Shout99 will be continuing coverage of the issues relevant to freelancers during the day, with expert comment and analysis from Kevin Miller and freelancer tax specialists, Qdos Consulting

More news on developments to follow.

Post Budget Seminars:
Places are going fast for the Qdos/Shout99 Post Budget seminars on freelancing. To reserve a place at one of the six venues, click on the red link above.

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Susie Hughes Shout99.com 2004

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Budget Flash (1): IR591 = 19% ... Susie Hughes - 17/03
    Dates? helqasem - 17/03
    WEB REF / Details VXJK - 17/03
    Dates an some others from IR s... Gnashmills - 17/03
       Discrimination & a sexist tax ... reclspeak - 17/03
          Not sexist alanp - 17/03
             No, no. no... mattgb - 17/03
             enjoying your ex-spouse hartashford - 17/03
             Married status reclspeak - 17/03
    "Tax Loophole" closed Morton3575 - 17/03
       A loophole he created nigelblt - 17/03
          FSB: Enterprise concession VXJK - 17/03
             BBC Breakfast TV andyr2 - 18/03
    from 1/4/04 yarwell - 17/03
    New profit, or retained profit alanp - 17/03
       More retained profits question... Spence - 17/03
          retained profit no tax?? gps - 17/03
             wishful thinking silicondale - 17/03
                yes, but... scamfree - 17/03
                   sure, but silicondale - 17/03
          Is Tax credit limited to 10% davidallen - 17/03
             currently the divi is not taxe... yarwell - 17/03
                Accounting terms aside... murrayie - 17/03
    What does this ACTUALLY mean ferretktf - 17/03
       Taxation of small companies-th... wdr - 17/03
          interesting ... silicondale - 17/03
             it isn't that simple wdr - 17/03
                minor correction wdr - 17/03
                   I'm sure they'll have a rule f... silicondale - 18/03
    Jointly owned shares by maried... gps - 17/03
    Over 50K profit - no extra tax... gps - 17/03
       Over 50K profit - no extra tax... abyford - 17/03
          So if you have a bad year... nigelblt - 17/03
       Going back in time wlsolutions - 18/03
    Careful this is not the IR591 ... concussed - 17/03
       5.95 silicondale - 17/03
          ...I think you may be right andyr2 - 18/03
       New shorter tax return mseddon - 17/03
          New shorter tax return pt II wlsolutions - 18/03
    In Simple Terms? lclarke - 17/03
       yes silicondale - 17/03
       In simple terms, yes koru - 17/03
          In simple terms, yes ... Taliesin - 18/03
             right and wrong koru - 18/03
                right and wrong Taliesin - 18/03
                   No, I don't work for the IR koru - 18/03
                      No, I don't work for the IR Taliesin - 18/03
                         Dunno koru - 18/03
                Re: right and wrong Simpson_Neil - 18/03
                   That's right koru - 18/03
                      Re: That's right Simpson_Neil - 18/03
       Reduce the impact pdof1 - 18/03
          Re: Reduce the impact Simpson_Neil - 18/03
             Reducing the impact pdof1 - 18/03
                Looking at it another way JohnBell - 18/03
                   Alternative Pension pdof1 - 19/03
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