I am self-employed, in that I set up a business in 2006, giving up a highly paid full-time job to do so. I also invested my SSIA and remortgaged a property to fund the business and took on a huge amount of risk
If the business had gone to the wall (looked likely for the first 4 years) then I would have had no social welfare safety net.
Fast forward and my company employs over 100 staff and exports are growing extremely strongly.
Like all other members of my company, my salary gets paid through PAYE and I do not claim expenses.
However I am now being charged 11%USC because I am an easy target, despite the impact I and the thousands of other self-employed have on our economy.
Were I to sell the business, any gains would be subject to 33% CGT.
It takes a brave person to start a business and all the tax system does is discriminate rather than encourage such bravery.
If the business had gone to the wall (looked likely for the first 4 years) then I would have had no social welfare safety net.
Fast forward and my company employs over 100 staff and exports are growing extremely strongly.
Like all other members of my company, my salary gets paid through PAYE and I do not claim expenses.
However I am now being charged 11%USC because I am an easy target, despite the impact I and the thousands of other self-employed have on our economy.
Were I to sell the business, any gains would be subject to 33% CGT.
It takes a brave person to start a business and all the tax system does is discriminate rather than encourage such bravery.