@RachelReevesMP @RupertLowe10 @Nigel_Farage @Keir_Starmer @bbclaurak Rachel Reeves, I planned carefully for retirement.
A North Norfolk holiday-let barn was meant to provide income, pay tax, employ cleaners, use local trades and support a holiday letting business.
On an example £1,000 booking, after the £180 commission, £150 cleaning and laundry costs, £50 electricity, £40 water and £40 council tax, only £540 remains before maintenance and repairs. After 25% corporation tax, that falls to £405. If the remaining income is then taxed at 40%, the owner is left with just £243 from the original £1,000 booking.
Remember, this is before allowing for any maintenance, repairs, insurance or mortgage costs. And the electrical PAT testing last year was needed. Now that company will receive no further income.
It is becoming impossible for a small Limited company to earn money.
How coffee shops, pubs, guesthouses and other small businesses survive with staff, rent, tax, regulation, insurance and rising costs is beyond me.
Make small enterprise pointless and people stop doing it.
Then government gets no tax.
Cleaners get no work.
Agents get no commission.
Local trades lose jobs.
That is not growth.