Entrepreneur, Frauke Golding, has launched an online petition requesting that the new dividend tax regime, effective from 6th April 2016, be reconsidered.
The petition, titled, ‘Reconsider the new Dividend Tax for small businesses’ states:
“The Government want to stop business owners being paid via dividends to reduce tax bills. This flies in the face of risk & reward for running a business & contributing to the economy. Life as a business owner means very long hours, low pay, stress, no holiday or sick pay & a life of uncertainty & worry.
The Government have stated that business is going to be at the heart of their programme for the next 5 years. Small businesses make up 99.3% of all private sector businesses and we provide just under 50% of all private sector jobs. There is a real danger that this new tax, along with auto enrolment and minimum wages increases, will have a significant effect on those people brave enough to start up a business that could make a meaningful contribution to the economy and jobs market.”
At 10,000 signatures, government will respond to the petition. At 100,000 signatures, the petition will be considered for debate in Parliament. The deadline for signing is 24th February 2016 and those wishing to add their names can do so by clicking HERE. At the time of writing, the petition already has over 5,000 signatures.