Note: I didn't cover the British Isa in this video because full details are not yet known. The Government has opened a consultation until 6 June, after which more information will be available. Thanks for watching :)
The phasing out of Biometric Residence Permits (BRP) and Biometric Residence Cards (BRC) is expected to be fully complete by December 31 2024. The adoption of e-Visas will remove the need for physical documents to prove immigration status, as the fully digital documents can be accessed and verified securely online.
Rishi Sunak called an early election as he and his Non-Dom wife will be leaving the UK and moving to the USA. Sunak didn't become PM for the love of the 🇬🇧 UK and its people, Sunak became PM for Status, Prestige and Connections, Sunak will be gone by April 2025 ...
😔😟😞 I'm sorry if I come across like a typical hooligan. Just wanted to tell you what I thought that you were 💯 gorgeous. Everyone is grilling me in the comments. Not that I care about them keyboard warriors. Just wanted to set the record straight with you. Still standing with what I said your cute. 😏
These videos are fantastic Kiran! Your videos are concise, simple to understand and you are SO articulate. I really appreciate the knowledge you're bestowing upon us as an audience.
Rishi Sunak called an early election as he and his Non-Dom wife will be leaving the UK and moving to the USA. Sunak didn't become PM for the love of the 🇬🇧 UK and its people, Sunak became PM for Status, Prestige and Connections.
A Cha! Finally a uk accountant that actually speaks about pro-active things. Most accountants just follow a system and nothing pro-active about them. Thanks Kiran. Going to look through your content.
Currently, non-doms can claim the remittance basis which means they only pay UK tax on income/gains they bring ("remit") into the UK. From 2025, the UK will move from a remittance basis to a resident non-dom basis. This means non-doms will be subject to UK tax on their worldwide income/gains like UK-domiciled residents, but only after they've been in the UK for a certain number of years. Specifically, people moving to the UK won't pay UK tax on foreign income/gains for the first 4 years they're resident, as long as they haven't been UK resident in the last 10 years. This removes the remittance basis and gives a grace period for new arrivals before worldwide taxation applies. However, long-term non-doms who currently benefit from the remittance basis may end up paying more tax under the resident non-dom rules. There are concerns some wealthy non-doms may choose to leave the UK as a result of the changes.
Thank you for this helpful video. One query please -at 4:46, you follow the example of a £100k gain on sale of 2nd property with the statement that the new 24% CGT rate “will only impact those whose incomes are within higher and additional tax bands”. However, the residential CGT rate is determined by the sum of adding income (which may be within the basic rate band) to the total taxable capital gain (in this case £100k) minus the CGT allowance. It’s whether this sum lies within the basic or higher/additional bands that determines the tax rate charged. Please correct me if I’m wrong.
One area of confusion for CGT for me is sharing shares with my spouse (bed and spouse). How can this be done such that both my spouse and i can maximise our CGT allowance from shares owned by one person in the relationship (hope this makes sense)
Great video, I would like to understand more about the changes to nursery hours and how much you need to earn to qualify and when it makes sacrifice salary to under 100k or just pay for nursery
I have a question about Capital Gain, I discover there's Capital gain allowance in the UK, if I'm correct it means I don't have to pay taxes under 6000£ in 2023/2024 and 3000£ in 2024/2025. Does that mean I don't have to declare anything or I need to fill some documentation? Also, my capital gain comes from the sell of some stocks I have in my Italian bank account, in Italy the bank pays taxes for you so it deducts capital gain automatically, in Italy there' s no Capital Gain allowance. Considering I'm a UK resident and I shouldn't pay capital gain taxes under 6000£, can I ask the UK government to pay back the capital gain I paid in Italy? If so, how?
For UK if you have assets worth over 20k GBP you still have to fill tax with HMRC even if you dont have to pay any tax. They just want to know you have those assets. For italy i have no idea but considering your gains are below 6k i doubt its even worth to get someone qualified to get that Italian tax back.
There will be many "Crypto Millionaires " this year for sure due to the BTC - ETFs - Halving and a possible Etherium ETFs. they are marking sure Tax is due.
How do I get back some of my taxes after pay 1300.00 last year's I'm getting depressed with UK taxes system. I want to know if one win 1000.000 how much taxes I'm looking to pay?
You did not mention that non working people i.e. pensioners will not gain by the NI reductions and will therefore pay more tax due to the freeze on the threshold.
Leaving a comment to show my appreciation of the service you're doing. Any lower tax band gems you might have, no matter how remote, please let us know, obviously it would still require a level of research on our behalf. Thank you 🌚
Sho did not mention the pensioners who will be a lot worse off due to the "Fiscal Drag" going on until 2028. This means that better off pensioners will be a lot worse off. Tax bands frozen means that many pensioners will have to pay a lot more in tax. Reduced N.I. rates will benefit some paid by the pensioners no doubt, but it will also affetct the future welfare of many. The UK ison a steeper slippery slope since Thatcher & co. Looking around today I see many young families with two+ children and dog living in a 4 bedroomed detached house with 2 newish cars on the driveway, somethingb that was impossible inmy younger days and no doubt will be impossible for the next generation. This generation is taking all....from the pensioners and from the future generations and would you believe it most are sitting on their backsides working from their home. The UK is a busted flush....
Very explained!!! Quick question in relation to non-dom , scenario 1 : person A is non-dom on skilled work visa since 2020 and A has never claimed remittance basis on worldwide income however , Person A earn is expecting to realised gains outside Uk in 2025 after tax year then A will also be entitled to get 4 years exemption. What is ur thought based on current information. Thanks a lot in advance!
Note: I didn't cover the British Isa in this video because full details are not yet known. The Government has opened a consultation until 6 June, after which more information will be available. Thanks for watching :)
Ok
The phasing out of Biometric Residence Permits (BRP) and Biometric Residence Cards (BRC) is expected to be fully complete by December 31 2024. The adoption of e-Visas will remove the need for physical documents to prove immigration status, as the fully digital documents can be accessed and verified securely online.
Rishi Sunak called an early election as he and his Non-Dom wife will be leaving the UK and moving to the USA. Sunak didn't become PM for the love of the 🇬🇧 UK and its people, Sunak became PM for Status, Prestige and Connections, Sunak will be gone by April 2025 ...
😔😟😞 I'm sorry if I come across like a typical hooligan. Just wanted to tell you what I thought that you were 💯 gorgeous. Everyone is grilling me in the comments. Not that I care about them keyboard warriors. Just wanted to set the record straight with you. Still standing with what I said your cute. 😏
These videos are fantastic Kiran! Your videos are concise, simple to understand and you are SO articulate. I really appreciate the knowledge you're bestowing upon us as an audience.
Rishi Sunak called an early election as he and his Non-Dom wife will be leaving the UK and moving to the USA. Sunak didn't become PM for the love of the 🇬🇧 UK and its people, Sunak became PM for Status, Prestige and Connections.
Saving is not the word to be used when people with power take your money because they can
A Cha! Finally a uk accountant that actually speaks about pro-active things. Most accountants just follow a system and nothing pro-active about them. Thanks Kiran. Going to look through your content.
Thanks very informative. Would appreciate specific explanation of capital versus revenue expenditure of expenses in a rental income
Thanks Kiran very informative. Would like to understand more about NonDom tax
Currently, non-doms can claim the remittance basis which means they only pay UK tax on income/gains they bring ("remit") into the UK. From 2025, the UK will move from a remittance basis to a resident non-dom basis. This means non-doms will be subject to UK tax on their worldwide income/gains like UK-domiciled residents, but only after they've been in the UK for a certain number of years.
Specifically, people moving to the UK won't pay UK tax on foreign income/gains for the first 4 years they're resident, as long as they haven't been UK resident in the last 10 years. This removes the remittance basis and gives a grace period for new arrivals before worldwide taxation applies.
However, long-term non-doms who currently benefit from the remittance basis may end up paying more tax under the resident non-dom rules. There are concerns some wealthy non-doms may choose to leave the UK as a result of the changes.
Are they taxing pensioners with the state pensiom
I feel something wrong to get all this information with high quality video for free thank you your channel is very helpful for anyone new in UK
Glad it was helpful!
This is so well explained! 🙌
Thank you for watching!
i wish my accountant was as fit as you ❤
Thirsty.
Bruh... Embarrassing...
@@Zeeno why? I'm only here for the visuals
7:25 Free up what in the market? It’s been for me much harder to find good short rental than the other one
Any chance of discussing if Asset Protection Trusts are safe and worth it please? Specifically for care costs.
Thank you..your voice is very attractive.
Thank you for this helpful video. One query please -at 4:46, you follow the example of a £100k gain on sale of 2nd property with the statement that the new 24% CGT rate “will only impact those whose incomes are within higher and additional tax bands”. However, the residential CGT rate is determined by the sum of adding income (which may be within the basic rate band) to the total taxable capital gain (in this case £100k) minus the CGT allowance. It’s whether this sum lies within the basic or higher/additional bands that determines the tax rate charged. Please correct me if I’m wrong.
Sorry .. the sum of income minus income tax allowance and reliefs , added to the capital gain, minus CGT allowance
One area of confusion for CGT for me is sharing shares with my spouse (bed and spouse). How can this be done such that both my spouse and i can maximise our CGT allowance from shares owned by one person in the relationship (hope this makes sense)
Well explained, thank you 🙏
Glad it was helpful!
Hi Kiran could you please do a uptodate video on how taxation works for financial trading 🙏
Great video, I would like to understand more about the changes to nursery hours and how much you need to earn to qualify and when it makes sacrifice salary to under 100k or just pay for nursery
DONT go above 100k. You’d need to earn 130kish to break even with the loss of nursery allowances.
Can you help me to understand how capital gain tax work for Investment account(non ISA). The profit will be taxable when I sell my shares?
Kiran any chance you could explain the rules associated with being an expat and the tests for being a non uk tax payer if working abroad?
What about CGT on stock and commodity investment portfolios?
Please give a video on holdover relief and gift relief
You explain very well and you sound believable 👍 thanks again young lady
Thanks for watching, glad the explanations were clear!
Can tou discuss moving out of the UK and what to do when leaving for tax purposes i.e uk residency tests
Hi Kiran, how we can reach out to you in order to get a quote for the LTD tax filing and to utilize your expertise to save some tax :)
Are the non dom rules to be applied retrospectively? As in, if we leave now, will the 10 year rule apply anyway?
Good advvices. Can I ask something, make video second property transfer to family member without paying any tax
Hi Kirun, do you know that BTB can make investments without tax to 80.000 on crypto coin
I have a question about Capital Gain, I discover there's Capital gain allowance in the UK, if I'm correct it means I don't have to pay taxes under 6000£ in 2023/2024 and 3000£ in 2024/2025. Does that mean I don't have to declare anything or I need to fill some documentation? Also, my capital gain comes from the sell of some stocks I have in my Italian bank account, in Italy the bank pays taxes for you so it deducts capital gain automatically, in Italy there' s no Capital Gain allowance. Considering I'm a UK resident and I shouldn't pay capital gain taxes under 6000£, can I ask the UK government to pay back the capital gain I paid in Italy? If so, how?
For UK if you have assets worth over 20k GBP you still have to fill tax with HMRC even if you dont have to pay any tax. They just want to know you have those assets.
For italy i have no idea but considering your gains are below 6k i doubt its even worth to get someone qualified to get that Italian tax back.
Thank u Kiran
Very informative
Glad it was helpful!
Hi your videos are really helpful.i just want to ask for the companyes as LTD what is the treshold
There will be many "Crypto Millionaires " this year for sure due to the BTC - ETFs - Halving and a possible Etherium ETFs. they are marking sure Tax is due.
How do I get back some of my taxes after pay 1300.00 last year's I'm getting depressed with UK taxes system. I want to know if one win 1000.000 how much taxes I'm looking to pay?
Are you taking on new clients?
do you have plans to advise on CGT on crypto?
Hi there, yes I am planning to cover crypto taxes in a future video!
Many thanks ®️
You did not mention that non working people i.e. pensioners will not gain by the NI reductions and will therefore pay more tax due to the freeze on the threshold.
Thank you for teaching
How much is certain?????
Any info on OMB'S and RTI ?
Great information. Thanks
Glad it was helpful!
Leaving a comment to show my appreciation of the service you're doing. Any lower tax band gems you might have, no matter how remote, please let us know, obviously it would still require a level of research on our behalf. Thank you 🌚
What a lovely comment, thank you
Thak you for your advice
Thank you for watching!
Got to love equality, irrelevant royal family pays 0taxes, 0 IHT
Gurus Kaur has smashed it!! Well done !!! Great content
Thank you so much, glad you enjoyed the video
Thank you 😊
You're welcome!
Are you ICAEW qualifed ?
Thanks 🙏🙏🙏
Thank you for watching!
Sho did not mention the pensioners who will be a lot worse off due to the "Fiscal Drag" going on until 2028.
This means that better off pensioners will be a lot worse off.
Tax bands frozen means that many pensioners will have to pay a lot more in tax.
Reduced N.I. rates will benefit some paid by the pensioners no doubt, but it will also affetct the future welfare of many.
The UK ison a steeper slippery slope since Thatcher & co.
Looking around today I see many young families with two+ children and dog living in a 4 bedroomed detached house with 2 newish cars on the driveway, somethingb that was impossible inmy younger days and no doubt will be impossible for the next generation.
This generation is taking all....from the pensioners and from the future generations and would you believe it most are sitting on their backsides working from their home.
The UK is a busted flush....
Two Internal Auditors can provide exemption from Taxes
Brilliant
This affect on Economy of England shoud be increase Tax economy come on Line
And again..the tax farmer save penny and rhe rich save millions
Stamp duty
This country is finished, moved couple of years ago where I live tax free and more freedom
are non doms submissive :?
Very pretty
This is a tax video, you pervert.
Taxation is thieve for the parasite who taxed more than once.
There have changed my tax code
Your so gorgeous. 👌😮 😎💥
Helloooooo🤔
Leave her alone you weirdo.
I messaged sumone twice to talk to them so I'm a weirdo. 🤔 Funny.
@@ifrazali2712why the frack do you think your behaviour is normal? Like the other perverts in here, you can't act normal for a minute?
Yes you are weird
Only fans?
Go check your mummy's
@@kobalos73 link?
Your northenness is showing ... The word "class" and words like "above". You can't help it. Oh and "after" too.
Proud of being Northern and glad it shows!
It wasn't intended as an insult. My husband's dad is from hull. I hope you didn't think I was insulting you.
Ya come over on DINGY u get for NOWT!!
you look like a Robot girl very cute very beautiful 👌
Very explained!!! Quick question in relation to non-dom , scenario 1 : person A is non-dom on skilled work visa since 2020 and A has never claimed remittance basis on worldwide income however , Person A earn is expecting to realised gains outside Uk in 2025 after tax year then A will also be entitled to get 4 years exemption. What is ur thought based on current information. Thanks a lot in advance!