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Blimey! What an eye opener Kiran! Thank you.

Get a great accountant and dodge tax under labour.

Nischa looks different in this video

Hello Kiran, are ULEZ scrappage grants taxable income for a sole trader ?

I wonder why this isn't taught in most schools...

thanks for your video.. I have a question.. With regards to offsetting tax. you mentioned the 3k exemption from capital gains.. is it possible to somehow split crypto profits into capital gains and income? would it be possible to do this for the purpose of offsetting more tax, the 3k for the capital gains and them more for the income tax, like the purchase of a computer, vehicle etc etc. hope that made sense.

Can you cover me ie with wedding ring ?lol

Great video, I have a quick question. I am an aspiring trader, I am looking study some traders and earn off their expertise rather than investing myself and lose money emotionally. Whats your take on copy trading? Do people really make money? Just looking for some reassurance

Im sorry but in the first example you completely skip the part about how one would buy said assets. In some cases this comes from either stock owned (tech company founder) but in most cases its savings, ergo assets are still accrued via income. Feels completely backwards and all it says is that income tax is higher than dividend (not true everywhere). If anything it may explain exponential asset growth over time via compound interest.

I could be wrong but security banked line of credit doesn't exist in the UK??

Spot on! Three things to add- A car is never an investment, it is an expenditure. If you buy a new car on finance that £250 per month is not paying for the car- it is just covering the depreciation for that month!! The key is cost per year. Three numbers set this. Cost when buying, how long you own it and resale value. Take resale off of new price and divide by years. A mid-range new car can easily cost £4,000 per year. A decent, quality used car can be under £1,000 per year. Fuel and service costs can be factored in the same way.

Eight men now control as much wealth as the world's poorest 3.6 billion people, according to a new report from Oxfam International.

*Having multiple streams of income is a game-changer for stability. Relying solely on a job may not provide enough financial security due to high rates of tax, it is important to explore additional investment opportunities to surpass one"s expectation*

How do they get around inheritance tax when passing on their assets at death.

Excellent video. Keep up the good work.

Another great video Kiran keep up the good work😊

Thanks Kiran a great video into compound investing

A good book on this subject is- The Value of Debt by Thomas J Anderson.

If you ask HMRC if the tax we pay will go towards funding illegal wars & genocide they fail to give a definite answer, which in turn you can legally not pay the tax you owe.

Everyone should pay a fixed amount regardless of the income earned.

Can I dispose of crypto for my spouse and just report the 'transfer' in my self-assessment ,or do I have to actually transfer them directly to her to sell?

I am not happy with UK tax system Disagree with on every Tax they Apply

uk is HELL 🔥🔥🔥 why should i pay tax on my crypto income it is Mine if i loss it's my Loss if i Earn Good Income it's Government TAX !!! I completely disagree with UK tax system on crypto it should be fixed amount of 5 to 10% only

Hi Kiran, This sounds great! Could i do this with my BTL property? I have significant equity in it. Who provides these security backed loans and are they available to normal people?

Tax is legalized theft

I understand this loosely, but still can't wrap my head around how you pay the loan back? My conclusion is that you'd need to draw down from a Portfolio to make the repayments. So the "asset" would still have to be large enough to not shrink. Am I missing something?

thank you but you know i would move to a place were they dont pay tax i cant recall the name of city.

The rich pay less tax because the taxation laws were created by them and for them. It's really as simple as that. Just look at the bank balance and assets of every front bench MP.... It really isn't rocket science.

No economy has ever taxed it way to prosperity

It's a blatetent loophole that should be closed. They should be able to borrow against their securities but when it's for personal spending it should be considered income. I appreciate it's probably more complicated than this statement but it's blatantly unfair if billionaires avoid paying a similar rate of tax on their income than regular workers.

Vote Reform

Just into the 1%. Will die with $,$$$,$$$ in debt. Borrowing is tax free. I cringe when people say that being debt free is their retirement goal. Who deserves your money the most; you or your bank? Don't pay off your house/apartment etc. Keep it with max debt and let inflation and rising housing prices do your work. Fixed property is by far the best inflation hedge. 1/3 property, 1/3 annuities, 1/3 stocks. YMMV.

Does the individual taking the security backed loan not have to make regular payments towards the loan before they die, and settle the loan balance with the sold assets?

So musk would still have billions to live on if he paid the same rate of tax as the rest of us trapped in PAYE. I can’t set myself up as a “shell/holding company “ and borrow my salary and pay tax back at a favourable rate. I’m all for equality. The skewed tax system in the UK needs to be changed to a fairer one.

Invest in the financial markets before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.

I left 🇬🇧 because the tax system is punitive. My principal residence is now India, but I negotiated an Expat (net of tax) pay deal because I’m a foreigner. But my tax residency for investments is Singapore (my wife’s nationality) where the tax liability on capital gains is zero %. I’m pretty much priced out of Britain now.

Super poor

Nobody is talking about paying back the loan (borrow part) ... you need cashflow to pay loan interest and/or principal... So you still need income or dividends to pay interest. Anything I'm missing?

The average person would currently be best placed to buy assets in an isa and then have the ability to take the dividends tax free or reinvest then

I can’t see why rich people would want to live by these tax rules in the first place. Most would set up offshore companies and live as a resident elsewhere. Best way to save tax. Most millionaires are leaving the UK these days.

Passing assets to heirs at market value means inheritance tax?

One thing not mentioned is never to get married and outsource your heirs to Venezuela until they start making money themselves.

LISA is crap; you cannot cash in until 60 and the inflation will eat away the 25% bonus in 42 years no problem. The numbers look good, but true value of money isnt.

This is a misleading title, rich pay less tax as a proportion of wealth, although the examples you give means that are paying way more tax in absolute terms.

This is the problem with society, I have no control of my wages and tax, it's done at source, I can't say to my employer I don't want to pay tax as I would rather invest it. It should be the same for everyone. The rich can afford solicitors and accountants ensuring they don't pay their fair share of tax

Amazing and brilliant work, Kiran. Your explanation of this advanced tax planning topic was clear and concise.

FINANCIAL EDUCATION IS VERY IMPORTANT PEOPLE SUFFERING THEY DON'T UNDERSTAND THE TAXES BETWEEN BUSINESSES AND EMPLOYEE

im not rich yet, but thats what im doing.

add on another 10% for student loans and another 5% pension deductions made by law plus NI.

I love your English accent