Blog Tape

by | Feb 11, 2021 | Communication

This is my monthly reminder that 3 million of us are still #ExcludedUK & #ForgottenLtd by this government.

There are still some schadenfreudes out there who think we’re tax dodging millionaires who don’t deserve anything.

Let me explain.

Most of us have been advised to structure taking money from our business in the following way for tax efficiency purposes.

A minimal annual directors’ salary circa £7-£12k
We pay directors paye on this.

Dividends when we can.
We pay tax on this.

We also pay corp tax and VAT (if applicable due to size)

Why do we do this?

As we don’t receive a pension/sick pay, holiday entitlement, notice period or redundancy so need to put aside for this.

We’re not guaranteed a salary as per PAYE employees.

If we don’t work, we don’t get paid.

We also poured in our own cash to get things started and have given blood, sweat and literal tears to keep things moving.

So, next time you see a sole director post about help, try to find that empathy part of you that’s been pushed so far down due to the divide this government fosters and think about what’s on the other side.

An actual person.

Bottom line, we’re not asking for special treatment, just the same as all the other taxpayers, of which we are too.

Parity not charity.

#eventprofs

Related Articles

Recruitment Trends for Q1 2025 and Forecasts for the Year Ahead

Recruitment Trends for Q1 2025 and Forecasts for the Year Ahead

As a senior recruitment specialist, I’m sharing my latest insights into the shifting recruitment landscape, drawn from ongoing conversations with agency owners, hiring managers, and senior industry leaders across the events and experiential sectors. With economic...

Why EDI Isn’t Enough Anymore… But Still Matters More Than Ever

Why EDI Isn’t Enough Anymore… But Still Matters More Than Ever

McDonald’s and ASOS are just two of the high-profile brands that have recently stepped back from targeted EDI recruitment strategies, and we’re starting to see this shift ripple into the events industry. But while it might look like EDI is losing ground, the truth is...

Register to receive the Annual Salary Survey results and white paper

Register to receive the Annual Salary Survey results and white paper

 

Fill in your details below to receive the Annual Salary Survey results and white paper.

Results due November 2023

Thank you for registering, look out for the results soon!