Response from my MP Nadhim Zahawi about why my single-person limited company won& #39;t get anything from the UK government.
He doesn& #39;t understand how this works. 1/
@faisalislam @Peston
He doesn& #39;t understand how this works. 1/
@faisalislam @Peston
1. My business states profits to HRMC, and that information has nothing to do with how it& #39;s distributed.
2. This is support to businesses, not individuals, so it has nothing to do with the rest of my income.
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2. This is support to businesses, not individuals, so it has nothing to do with the rest of my income.
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3. Dividends don& #39;t benefit from lower taxation with companies like this; they are double taxed. Once at the standard corporation tax rate of 19%, then again, above £2000, at 7.5% as personal income tax.
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