I always watch your videos and take onboard what you're saying, I find them very helpful especially because I'm currently in the transition period of going self employed from being many years employed by a company. Thanks so much for your time and effort that goes into these videos.... Please keep up the great work 👍.
As a freelancer, I work much harder and much longer hours than ever before, BUT I don't have to listen to idiot arrogant bosses and let them use my skills to get rich ✊
New sub here, apreiceate your videos and have watched all I can that's relevant to myself. Actually watching from Thailand. We are strongly considering moving back to the UK but when I looked at what tax I would have to pay I jumped out of my seat lol. Do you have any experience with Forex trading? I'm a Day trader and take 2 + trades per Day so it seems based on frequency I would have to go self employed and pay 50% tax. Rather than a fixed capital gains tax of 20%. Maybe I'm wrong but this is the conclusion I have come to . Although on the brokers website it states CFD trading is subject to capital gains . If You have any knowledge on this then pretty please could you make a video on the matter...?
Glad you enjoy the vids! Oddly we avoid talking about forex as it’s not an area we specialise in. However, when it comes to tax it’s normally down to whether something is considered a ‘trade’. If it is you have income tax. There are several ‘badges’ of a trade to consider to figure out it you are trading. Frequency is likely to come into it as a factor. If not it’s effectively investment activity you the capital gains rules apply (and are lower rates). This may help www.gov.uk/hmrc-internal-manuals/business-income-manual/bim20205
Thank you for the videos and helpful information. Wish id found them earlier. I’m going to need a bigger boat. 😂. Hoping to give you guys a call soon but there’s one thing that’s worrying. I have 2 jobs with the same employer - 28 hrs permanent and ad-hoc 8hrs per week. 2 different tax codes and now wee side hustle, started beginning of April is picking up (no profit as yet. Do I register for self assessment without being LTD? Ty kt😊
I always watch your videos and take onboard what you're saying, I find them very helpful especially because I'm currently in the transition period of going self employed from being many years employed by a company.
Thanks so much for your time and effort that goes into these videos....
Please keep up the great work 👍.
Thanks Colin! Good luck with the transition!
As a freelancer, I work much harder and much longer hours than ever before, BUT I don't have to listen to idiot arrogant bosses and let them use my skills to get rich ✊
This is a benefit :) sounds like you had a bad boss or two!
I think it does work out if you get a good accountant, if not just stressful at times!
I’d argue it’s stressful most times 😂
Thanks Dan. Very interesting information. I'm watching from Ireland, but I have not the same tax structure obviously but a lot of similarly.
Glad you found it interesting! Yes most the concepts will be the same.
That was interesting listening. Thank you as always 📊
Glad you enjoyed!
New sub here, apreiceate your videos and have watched all I can that's relevant to myself. Actually watching from Thailand. We are strongly considering moving back to the UK but when I looked at what tax I would have to pay I jumped out of my seat lol. Do you have any experience with Forex trading? I'm a Day trader and take 2 + trades per Day so it seems based on frequency I would have to go self employed and pay 50% tax. Rather than a fixed capital gains tax of 20%. Maybe I'm wrong but this is the conclusion I have come to . Although on the brokers website it states CFD trading is subject to capital gains . If You have any knowledge on this then pretty please could you make a video on the matter...?
Glad you enjoy the vids!
Oddly we avoid talking about forex as it’s not an area we specialise in. However, when it comes to tax it’s normally down to whether something is considered a ‘trade’. If it is you have income tax.
There are several ‘badges’ of a trade to consider to figure out it you are trading. Frequency is likely to come into it as a factor.
If not it’s effectively investment activity you the capital gains rules apply (and are lower rates).
This may help www.gov.uk/hmrc-internal-manuals/business-income-manual/bim20205
Thanks for that. That’s brilliant
Glad you enjoyed it!
Thank you for the videos and helpful information. Wish id found them earlier. I’m going to need a bigger boat. 😂.
Hoping to give you guys a call soon but there’s one thing that’s worrying. I have 2 jobs with the same employer - 28 hrs permanent and ad-hoc 8hrs per week. 2 different tax codes and now wee side hustle, started beginning of April is picking up (no profit as yet. Do I register for self assessment without being LTD? Ty kt😊
Glad you find them useful! Have you seen this one? Most of it still relevant SHOULD I BE A LIMITED COMPANY?
ruclips.net/video/QBXEq931h98/видео.html