This is the most realistic “social media” accountant I’ve ever come across. Props to this guy. People think you can live your life using a company card, you can’t!
As a chartered accountant - this guy has just said the most basic accounting rules but used a loudspeaker. Credit to him for making so much noise from basic information, might have to follow this!
This Podcast left a lot on the table. I feel this pod was more like a “how to dodge tax” and forgetting your sat in front of a young, award winning accountant, someone who runs his own business. There’s a lot of young people studying accounting who watch you, you didn’t discuss his background, why he went into accounting, the journey of studying and getting to where he is now what that looked like ? Hope you take this feedback and do better if you sit down with him again because the guy is literally revolutionising the accounting industry in the UK in terms of social media and the next generation of accountants.
What a pod honestly so crazy that not one thing discussed here was taught to us in school but I guess there is a reason for that 😳 thank you raheem for delivering a top quality podcast !!!
This whole episode is dedicated to this man finding ways to not pay tax. I’m sure this man now has a company set up in Dubai, a Tesla, he is earning £12,740 per year and all his family ‘work’ for the company. He’s questions are focused on how do I buy nice things and not pay for them. Clear example of how the young entrepreneur is focusing on the wrong thing. Grant Cardone said ‘tax is a good thing, it means I’ve earn more money’ Let’s try and focus on building amazing businesses for the future generations to enjoy rather than buying a Lamborghini
This podcast is very interesting and raises some juicy ethical questions. I for one think everyone should be able to make their money work for them, and having someone in a professional capacity point you in the direction of sensible investments is a great idea! It does however raise a subjective ethical question in regards to how quickly the topic becomes a drive for zero tax. If you live in a country, and benefit from the healthcare, roads, landscape, council services etc don’t you think you too should be contributing to the combined pot in which this money comes from? I find it ironic how many people moan about the state of the country or a specific public service but are unwilling to actually pay their share. To compare the UK with Dubai is ludicrous. The UK is a country in trillions of national debt and relies upon the general socialist concept of tax to function, whereas Dubai is a country in Billions of profit and can run their entire country without extracting a penny from the residents.
11:11 when you said they can get the 12,570 from the company to reduce tax surely thats the same as there first 12,570 which is tax free even if there employed
Yes but the whole point is that the 12,570 is an expensive on the business meaning not only do you pay 0% personal tax you also lower the business profit meaning you would pay less tax within the business too Assuming the business corporation tax is 20% youd save £2,514 + gain the £12,570 tax free Same when he says about paying your relatives too, each £12,570 salary you pay (assuming they have no other income) the business saves £2,514 and the relatives get tax free money
@@RookGhost but if someone was only £50,000 being employed they wouldn’t have to worry about corporation tax so I don’t think there’s no saving at all in that respect
@@hbmustangsNational Insurance my friend. Granted director/owner of Ltd isnt as lucrative as it was 10yrs ago, but the12.5k salary/dividend mix up to 50k is still more tax efficient as a 50k gross employee. It has to better from a tax policy point of view otherwise you would kill entrepreneurship
10:37 i work outside of IR35 but still had to use an umbrella company for wages due to nhs being so rigid. No option to be paid directly or via a ltd company…
Hold on. So the electric car if new you can get 100% write off over the year? So basically If I bought a car for say £120k... It writes off 10k per month? So the car is yours at the end of the year? Thats right?
@@mirajali4144 And you. Norway is oil rich like Saudi Arabia and Kuwait but they have very high taxes. Shows how generous rich Muslim rulers are compared to rich Western countries.
@@Ikraam1418 the double standards of the west is just mind boggling, it really is the need to take leaf out the books of these people they look down on.
I love the grounded reality of this channel!!! Retirement took a toll on my finances, but with my involvement in the digital market, $15,000 weekly returns has been life changing. AWESOME GOD ❤️
You work for 40 years to have $1 million in your retirement. Meanwhile, some people are investing just $10,000 in a meme coin for a few months, sometimes less, and are now multi-millionaires. I pray that anyone reading this will succeed in life.
*with over 10 years of tra ding experience, Mrs Sarah has gained herself a good reputation by helping a lot of persons build their finances' through inves'tments🇺🇸.*
@@hbmustangs that's fine, you can even be a tax resident in the UK and if you're in the UK for less than 90 days a year with no ties like a house/business in the UK you don't pay taxes
Guarantee his case study/audit wasnt the success he implied it was, accountants know how to strip a business to reduce cost, however, don’t understand the intricacies of a business, the hidden parts of a business that male it a success, sometimes loss leaders are required to male the profitable parts work or viable. Im sure some of the things identified truly saved money, just sounds like the business wont be there within 5 years based on his description. Lets face it he gets a fee now to save money now with no consequences if the business fails in the future based on his advice. The owner might not even be aware it was linked.
I'm be hosting a FREE special webinar with an entrepreneur! Only accessible via email, sign up here:
theceohub.co.uk/
Quality podcast, please get him on part 2 and discuss inheritance tax & use of trust funds etc. very informative podcast, keep up the good work Raheem
exactly what i need to hear, trust funds , shell companies
Agreed definitely need a part 2 for IHT and trusts, Raheem make it happen 🙌🏽
It’s better to seek professional advice, and not rely on this podcast solely. It is good information though!
Great input
This is the most realistic “social media” accountant I’ve ever come across. Props to this guy.
People think you can live your life using a company card, you can’t!
As a chartered accountant - this guy has just said the most basic accounting rules but used a loudspeaker. Credit to him for making so much noise from basic information, might have to follow this!
The interviewer is typical of many young entrepreneurs I’ve met, you can tell he’s claiming for all sorts of expenses that are not allowable.
This Podcast left a lot on the table. I feel this pod was more like a “how to dodge tax” and forgetting your sat in front of a young, award winning accountant, someone who runs his own business.
There’s a lot of young people studying accounting who watch you, you didn’t discuss his background, why he went into accounting, the journey of studying and getting to where he is now what that looked like ?
Hope you take this feedback and do better if you sit down with him again because the guy is literally revolutionising the accounting industry in the UK in terms of social media and the next generation of accountants.
You’re* not your.
Glad I'm not that only one that felt this way
Well it is called ceocast not accountantcast
@@DragonSlash42 So where we’re the questions about being CEO? If it’s CEO cast? 😂cause the whole thing was about dodging tax
Bun that, give us the info.
What a pod honestly so crazy that not one thing discussed here was taught to us in school but I guess there is a reason for that 😳 thank you raheem for delivering a top quality podcast !!!
What a great podcast. Please get him back on again.
Loved this podcast brother 🤞🏽🤞🏽
16:59 exactly!!! There is a 62% tax rate from 100k to 125k
We need more podcasts like this. Brilliant.
This whole episode is dedicated to this man finding ways to not pay tax. I’m sure this man now has a company set up in Dubai, a Tesla, he is earning £12,740 per year and all his family ‘work’ for the company.
He’s questions are focused on how do I buy nice things and not pay for them.
Clear example of how the young entrepreneur is focusing on the wrong thing.
Grant Cardone said ‘tax is a good thing, it means I’ve earn more money’
Let’s try and focus on building amazing businesses for the future generations to enjoy rather than buying a Lamborghini
This podcast is very interesting and raises some juicy ethical questions. I for one think everyone should be able to make their money work for them, and having someone in a professional capacity point you in the direction of sensible investments is a great idea! It does however raise a subjective ethical question in regards to how quickly the topic becomes a drive for zero tax. If you live in a country, and benefit from the healthcare, roads, landscape, council services etc don’t you think you too should be contributing to the combined pot in which this money comes from? I find it ironic how many people moan about the state of the country or a specific public service but are unwilling to actually pay their share. To compare the UK with Dubai is ludicrous. The UK is a country in trillions of national debt and relies upon the general socialist concept of tax to function, whereas Dubai is a country in Billions of profit and can run their entire country without extracting a penny from the residents.
Think this has been the best one yet👌👏 Need to get him on again so we can send in some questions.
Great video thanks
Fantastic video! Thanks guys!
34:50 HMRC audit incoming Raheem :D Great podcast btw
How do you deal with Benefit in Kind (BIK) if you buy any car in company’s name?
11:11 when you said they can get the 12,570 from the company to reduce tax surely thats the same as there first 12,570 which is tax free even if there employed
Yes but the whole point is that the 12,570 is an expensive on the business meaning not only do you pay 0% personal tax you also lower the business profit meaning you would pay less tax within the business too
Assuming the business corporation tax is 20% youd save £2,514 + gain the £12,570 tax free
Same when he says about paying your relatives too, each £12,570 salary you pay (assuming they have no other income) the business saves £2,514 and the relatives get tax free money
@@RookGhost but if someone was only £50,000 being employed they wouldn’t have to worry about corporation tax so I don’t think there’s no saving at all in that respect
@@hbmustangs correct
@@hbmustangsNational Insurance my friend. Granted director/owner of Ltd isnt as lucrative as it was 10yrs ago, but the12.5k salary/dividend mix up to 50k is still more tax efficient as a 50k gross employee. It has to better from a tax policy point of view otherwise you would kill entrepreneurship
Should note that this video relates to Englland and wales only not Scotland
10:37 i work outside of IR35 but still had to use an umbrella company for wages due to nhs being so rigid. No option to be paid directly or via a ltd company…
Hold on. So the electric car if new you can get 100% write off over the year? So basically If I bought a car for say £120k... It writes off 10k per month? So the car is yours at the end of the year?
Thats right?
Exceptional Podcast.
Great podcast ! Very switched on
Great episode 👌
Good advice ,thank you for sharing.
May Allah bless those Arab kings and Sheikhs who don't steal money from their citizens.
May Allah bless you bro! Ameen people only focus on the bad.
@@mirajali4144 And you. Norway is oil rich like Saudi Arabia and Kuwait but they have very high taxes. Shows how generous rich Muslim rulers are compared to rich Western countries.
@@Ikraam1418 the double standards of the west is just mind boggling, it really is the need to take leaf out the books of these people they look down on.
They also extort people from poor countries 🤣. Being ignorant to reality isn’t an excuse.
@@bunpagans like the UK did after World War One and two, to rebuild the UK?
Excellent podcast
Quick question, how come these arnt being uploaded to Spotify anymore? Been waiting 😌
I love the grounded reality of this channel!!!
Retirement took a toll on my finances, but with my involvement in the digital market, $15,000 weekly returns has been life changing. AWESOME GOD ❤️
You work for 40 years to have $1 million in your retirement. Meanwhile, some people are investing just $10,000 in a meme coin for a few months, sometimes less, and are now multi-millionaires. I pray that anyone reading this will succeed in life.
I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do ? Thank you
Well I engage in nice side hustles like inves'ting, and the good thing is I do it with one one of the best(Sarah Evelyn Fic), she's really good!
No doubts, this Sarah Evelyn Fic must be an icon; how good is she and how safe is "profit making" with her.?
*with over 10 years of tra ding experience, Mrs Sarah has gained herself a good reputation by helping a lot of persons build their finances' through inves'tments🇺🇸.*
Avoiding taxes is very very hard but at the same time easy
No mention of VAT. If your profits exceed the VAT threshold, do you have to pay the VAT? Any ways of being efficient with that?
Vat threshold is based on taxable turnover and not profit, I think he got abit confused there.
51:14 in the US 100%
well done. sack the 72% staff. dump the work load on the rest. make the boss even richer. nice.
cleary said they stopped doing alot fo work. HENCE the need for less work.
So if you owned a business you’d just employ people for the sake of it?..
Civil servants 80% not needed😂
if you have a company in dubai but you run it from the UK they will still look to tax you on it. AS youve managed the company from the UK.
Depends how long you're in the UK for
@@RookGhost if you’re tax resident in the UK and you’re managing a business remotely which is registered in Dubai they will still text you
@@hbmustangs that's fine, you can even be a tax resident in the UK and if you're in the UK for less than 90 days a year with no ties like a house/business in the UK you don't pay taxes
What about whatsapp @@hbmustangs
so can i have a G wagon through the buisness or not haha Good podcast as always!
How come you didn’t share his information/details so we can get in touch with him
Amazing
Christ we ‘re being screwed
What about ISA?
🔥🔥🔥
Accountant company name??
Guarantee his case study/audit wasnt the success he implied it was, accountants know how to strip a business to reduce cost, however, don’t understand the intricacies of a business, the hidden parts of a business that male it a success, sometimes loss leaders are required to male the profitable parts work or viable. Im sure some of the things identified truly saved money, just sounds like the business wont be there within 5 years based on his description.
Lets face it he gets a fee now to save money now with no consequences if the business fails in the future based on his advice. The owner might not even be aware it was linked.
All rappers calling their accountants now😂
Just to add, you also lose the £12,570 once you go over 100k.
This interview was like watching a guy have *** with a girl and no for play, and bust after 2 minutes
Basically leave the UK ...
Vat
Accountant Job Role and AI Contribution: th-cam.com/video/OnAgjGLqTX0/w-d-xo.htmlsi=wEtgcXNWep5aAvvg
🔥🔥🔥