Tagged With: tax
Make mentoring deductible for corporation tax – inspired by @Lord_Sugar
I read Lord Sugars speech at http://www.facebook.com/note.php?note_id=159423317411506 and got to thinking.
Companies can claim capital expenses and R&D as deductibles for corporation tax. I believe that by extension companies should be able to claim a tax refund of up to 20% of the salary of a mentor who spends a minimum 20% of their time mentoring a registered apprentice.
Combining UK National Insurance with Income Tax
Having two so very different forms of taxation i believe is unfair and complicates calculation. I believe that the most glaring unfairness is that national insurance contributions are capped such that if you earn more than £xxx you pay no further NI on anything above that amount. I believe that upper limit should be abolished, I would phase this in by raising the threshold by 50% of its previous level each year going forward. At the same time i would look at reducing the rate itself down from 11% to 10%