By using Apprenticeforums services you agree to our Cookies Use and Data Transfer outside the EU.
We and our partners operate globally and use cookies, including for analytics, personalisation, ads and Newsletters.

  • Join our UK Small business Forum

    Helping business owners with every day advice, tips and discussions with likeminded business owners. Become apart of a community surrounded by level headed business folk from around the UK


    Join us!

Could you afford a tax hike after the coronavirus pandemic?

Needhelp

Needhelp

Active Member
Verified Member
It is inevitable corporation and personal taxation will increase in the aftermath of the coronavirus pandemic. The question is, with many companies reporting frail balance sheets as a consequence of the huge downturn in business, could you afford a tax hike after the coronavirus pandemic?
 
E

Employer

Member
Verified Member
This is a Catch-22 situation, there is obviously a need to reset government finances and bring in additional funding to cover the huge coronavirus-related expenses but businesses will take some time to recover. Draining them of vital cash flow in the short term, while hopefully business starts to pick up, could kill many companies stone dead before they even get out of the starting blocks.
 
J

Jackson D

New Member
Well, I can generally afford a tax increase. I plan to move to the UK in the near future to open a business and I have money that I receive from my online stores in the USA. And I respect the payment of taxes, yet this makes up a future pension, and we also help the state.
 
J

Jackson D

New Member
Well, I can generally afford a tax increase. I plan to move to the UK in the near future to open a business and I have money that I receive from my online stores in the USA. And I respect the payment of taxes, yet this makes up a future pension, and we also help the state. By the way, I would like to ask you. In the USA, we have a W2 form, which is a report on all taxes paid by you for the year, it can even be calculated online on calculators such as https://www.thepaystubs.com/w2-form-generator Do you have a similar tax report in the UK? It is very convenient for me personally, so I would like to use something similar in the UK.
 
Top