I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I've been an investor in Apple, gold, housing market as well. because I strongly believe in them, I've always believed in the stock, but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla . especially now that we are experiencing a market correction
Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot.
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.
@@richardattridge3182they’re still a developing nation but every time I go there I see rapid development happening. Then when I get home and everything is broken or going backwards.
If I didn't have kids, I'd be out of this country TOMORROW!! This government is waging war against the middle class with terrifying speed. Your videos have really helped us prepare ourselves for the upcoming onslaught!! Thanks Kiran!
Same! Now I am even thinking to go anyway... no point working in the UK anymore. So much tax already and pinalising hard working people big time! Enough is enough!
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
i got screwed over by blair, brown labour government at the start of my career. conservatives carried on the bad policies of labour. Doing the right thimg wont ever win elections hence why democracy will always fail. lucky i found this out long ago early in my career. im 41 now, i dont think it would be too bad for me, i live well below my means and have positioned myself in a way that if i get hit, so will most labour voters. ofc i dont want to be that way, but country is rotten to the core. nobody was asking where all that qe money to bail out banks in 2009 was coming from. this resulted in an economy where productivity flat lined. businesses never wanted to innovate as they had access to cheap foreign labour and cheap loans due to keeping interest rates artificially low hence why i needed to invest abroard. also due to qe and zirp they destroyed savings rates and the purchasing power of gbp. if you look at a 10 year chart of gbp to usd, you will see gbp has declined by about 20 percent. commodities are priced in usd after all. if the pound stayed strong fuel bills would be lower. but then you will have the lot with big mortgages complaining as the boe would need to keep base rates higher. anyway if it gets too bad in the uk, i can leave. could rent my house out in SE i guess. i already work remote anyway as a software developer. You get what you voted for
How about an annual "Wealth TAX" on ALL politicians and peers, their earnings, expenses and assets. Followed up with a zero foreign aid, zero benefits and costs for illegal immigration and reducing VAT to 10% across the board (no flat rate) that is no reclaimable. The latter would raise £Billions and save company's and the government a fortune in admin.
That's why I support Reform uk as they suggest to raise the basic tax rate threshold to 20K and the highervtax band to 70K to get people working and incentives to earn more.
@@grolfe3210 According to Richard Tice, you charge more National insurance from foreign workers (health care workers exempt) which raises £4billion, stop voluntary interest payments to the BOE which raises £35 billion, reduce illegal immigrants by leaving EHCR and deporting them would save £8 billion, cut out wasteful government spending in the public sector (bloating with staff increase of 600000 since 2019) would save £50billion, half the foreign aid would save £4 billion. Reform wants to write off student fees pro rata per year over 10 years of NHS service for all doctors, nurses and medical staff.All frontline NHS and social care staff would pay zero basic rate tax for three years to ‘help retain existing staff and attract many who have left to return’. There would no longer be training caps for all UK medical students. These are reasonable policies by reform that would likely improve the NHS service.
@@SK-kh2rs The more the working people would earn, with more disposable income, the more they have a chance in saving to buy assets and build up wealth. At the moment, the so called middle class is asset poor due to the fiscal drag from the frozen income tax thresholds whereas the wealthy minority enjoy a much lower tax rate from capital gain and tax havens. The current tax threshold doesn't take into account the culminating inflation over the past 30-40 years. Earning 50K today doesn't equate to the 50K in the 1980s anymore.
Ignorant Brits who voted for Brexit and Labour Party and those who are unfriendly/unwelcoming towards foreigners shouldn’t be allowed to leave the UK or complain
There is no incentive in the UK to work hard and be successful anymore. All labour want to due is take the success of others and share it with the masses. 😡
@adamlaw5225. Britain sold out in 1980s, No brit car brand british anymore ,except for Morgan. Media and govts Zipped as world bought all,harrods,boots, Ritz,&carlton gone as have other 5 star hotels ,football going . Heathrow sold ,now gatwick bought by Billionaire from Nigeria .last week all On shore wind farms sold by british Greed to a chinese billionaire in Hong-Kong. Li- something google . Do you know weetabix ,hamleys and 1000s sold to keep brits afloat . Mcvitivies digestives,jaffa cakes, Penguins owned by yeldiz holdings turkey Tragic all getting sold but a bubble called arrogance remains .
@@philmipants6337 It doesn't take everyone. If you recall with the Poll Tax, everyone was pissed off but the outcry on the streets forced a change and a resignation.
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
I concur. In light of individual experience working with a financial adviser, I presently have over $1m in a very much enhanced portfolio that has encountered dramatic development. It's not just a matter of having money to invest in stocks. you also need to be knowledgeable, persistent, and have strong hands to support your investment
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
That is literally it, every bit of information I see I'm hopeful for hope but then it comes back to exactly that it is far better to just survive, have a less stressful job and claim all you can. A pitiful situation.
I did set up a engineering consultancy but IR35 destroyed it, I wanted to focus on R&D, robotics and space and develop some of my own ideas. I’m just ticking along now, cut all my overheads, put all the business money into the mortgage and looking into emigrating, it’s impossible to get anywhere in the UK, especially if you come from a working class background and end up funding your way though science degrees and astronautics etc.
Capital gains tax is a tax on nominal gains, not allowing for inflation so you can find yourself paying tax on a real terms loss if you've held an asset for a few years of cumulative CPI growth. If they raise the % rate its only fair to bring back something like indexation allowance.
Completely agree, however, I doubt this would result in a notable increase in tax receipts for the gov, noting that most people won't be sitting on significant gains in real terms. So this change of policy may not be opted for by the gov as its not solving their problem.
@@OGFuryThe Lib Dems estimated in their manifesto costings that a policy of aligning capital gains tax rates with income tax* whilst also bringing back indexation allowance would raise an extra £5.5 billion a year. This compares to £14 billion if you simply aligned the rates. *The tax band used would be calculated exclusively on the size of the capital gain, rather than accounting for your ordinary tax band as at present.
@@Vanosphere Of the people I know, the ones who have spent the last 30 to 40 years pissing their money up the wall are the ones who have the best lifestyles, no official employer, plenty of leisure time (when they're not working cash in hand) and all the luxuries, if not more so than those that work. It pays to be a headworker.
For a lot of us the only chance of ever getting a boost to escape poverty is inheritance. Labour are even robbing us of that. There's going to be a lot more homelessness soon.
@@theresevoerman7109I thought the idea of my life, was to do exactly as I PLEASE WITH MY WEALTH? be it giving it away to my family as an inheritance, thank you? You go right ahead and give your wealth to all and sundry and I’ll fully support you.
The problem now is, we are reaching a tipping point in Britain where non productive people living on state largesse will very soon be greater than productive people who pay tax for the largesse. The government are clearly targeting people in Britain who appear to have wealth, and may even have wealth, in order to take from those people, in an ever increasing tax grab, in order to transfer this wealth from the productive, to the non productive. This cannot go on in perpetuity. People are beginning to realise that this Communist Labour government will make everyone poorer and they are now waking up to the realisation that it may be time to leave the sinking ship for another country where the tax burden is far less and freedoms are not under attack. Great informative video btw.
That's exactly why I took a pay cut (higher to lower tax bracket), paid off my mortgage and will pack in work quicker. Will become a scrounger since it's better being a dosser in the UK now. I am a highly educated professional but will play the system if they want to be stupid
Why we pretending most are productive 😂 Most people moaning here are not very good at their jobs. Most companies have the 10% super talents who carry the rest. Most people were begging for a lockdown so they get paid holiday. Well that comes at a cost. Most people voted for brexit and still cant accept it was a cock up 😂 EuRozOne iS nOt doInG wElL they will scream 😂 Most people stayed silent voted in people who were pro Libya and Iraq wars which caused refugee crisis. Most people have been living in a bubble and not realised once other nations caught up in this competitive world, Britain was going to struggle massively
@At_the_races. A lot has changed you lot don't own much as the world employs you .media mum ,govt Mum since 1980s.Every car company or brand owned by foreigners Fact except for Morgan. Heathrow sold, followed by gatwick to a billionaire from Nigeria. Harrods,selfridges, Weetabix most 5 star hotels like The ritz & carlton .hamleys By the way mcvities Digestives,jaffa cakes sold to yeldiz Holdings of turkey . The world employs see google what else foreigners bought . Football going all gone but arrogance remains .1st world but assets foreign. Nhs fading all falling apart .
@@SK-kh2rs A woman is born with a uterus cervix & Overy and can give birth to children. Her Pelvis is also different so she can give birth to children. She doesn't have a penis.
Labour have exceeded all of my expectations for failure, spitefulness, hypocrisy and incompetence. This should cement one term and then we can start to repair this country.
So... did labour break nhs? Did labour increase taxes since 2009? Did labour keep real income flat for 10 years? Did labour increase the % of poor people to the highest in 50 years? Tori broke the country and it needs repairs. Pills for healing can be bitter short term, true
The problem is how can a minority vote get a gov a very large majority, they only got 34% of those that actually voted, we are supposed to be a majority rule country, how have we allowed all our NGO'S to be infiltrated by the loony left, n what's to say the electoral commission is not the same, the electoral system has been shown to be a joke, nearly two thirds voted against this anti English party.
Tax on property that is your home should be illegal, it can simply drive you into poverty and force you to sell if you cannot afford to pay for whatever reason. I'm retired with a very modest portfolio to support me , barely getting by and any increase in tax will sink me , this is the reality for a lot of people, but if you are claiming benefits it's fine, if you are working you can ask for a pay rise or work more hours. Unfortunately there are simply too many old people no longer working which is unaffordable apparently ( yet still we can afford aid to other countries etc etc ). I paid my dues all my working life and saved for my retirement and now I'm screwed thanks to decades of useless government inability to do the same ..
I'm in my early 40's and it's looking like I'll be in a similar position - possibly worse by the time all new taxes / theft is introduced. If you had to do it again, would you have emigrated?
The money still benefits the economy if govt spends it on public goods like the NHS. In fact there can be a multiplier effect if spending benefits large numbers of people through better services leading, for example, to better health and less individual burden of caring for the elderly. Govts are too timid and reluctant to educate the public.
Probably my long term plan but saw something on TH-cam saying Thailand may be affected by WEF longer term but think if join BRICS they won't. Let's hope
The US has a really interesting tax. You pay a property tax (like our council tax) as a percentage of between 0.7 and 2% of the property's valuation. Some owners in some streets in London will be paying £10,000 a month in property tax if we adopt the same. Brings a tear to your eye, doesn't it. 😮
Why not have a tax on people walking on the cracks in the pavement ? The Labour party said everything is costed and there is no need for tax risers, before the election, how things have changed and so quickly.
I am retired. Now 68yrs. Have paid Nat Insurance for 50yrs. Saved into a pension since I was 20yrs old and I’m now told I may lose the state pension. Leaving me worried and stressed as I still have a mortgage and family to support. Is this how my Government should be treating me? No. It is shameful. There are many many people in this same position.
Fantastic advice, so the hard we work the more risk we do is for nothing other than to pay labours taxes, if we work out for every £1 we make how many times we are tax on that £1 and what we really end up in our pocket from that £1? Total disgrace we man as well lye around get benefits and not work 100+ hours a week having no free time taken huge gambles on projects we’re we could be in debt our whole life if it goes wrong to buying your own family home, sum up labour are shithouses who are wasting 10s of billions on migrants and giving money away to other countries and so much for a Mans home is his castle
This is what Labour have always been. Tax and spend. Or tax and borrow and spend. They will achieve growth but, just like last time it will all be built on sand and it will collapse. They 1.5 million houses is for wealth creation not people to have more affordable good housing. You don’t create anything by giving public sector workers massive pay rises with nothing to show for it except them doing their jobs. They’re wasting ten thousand million pounds on overseas climate aid. What the actual Fark! I know it’s 10 billion but it sounds worse when you say 10 thousand million pounds. We are actually giving other countries money to improve their roads. You couldn’t make it up.
@@davideyres955we also loaned money with interest to iraq to improve their infrastructure after bombing it 😂 what’s your point? All foreign aid isnt charity. Its done to gain some influence. You want to believe we give it away and give everything to migrants so you got someone to blame for your shitty life
Seems that the solution could be to just leave everything alone, keep the tax levels as they are and just let fiscal drag to all the heavy lifting. They need to be careful as once they start upsetting decent earners in the public sector they will be out come the next election.
Many people use their main property as part of their pension plans since they didn't accrue sufficient assets while working for an annuity. If the chancellor imposed a land or wealth tax on primary homes many pensioners could find themselves rapidly impoverished, and Labour may find itself facing extinction. After the euphoria of the election how rapidly things have 'gotten worse'
I didn’t think things could get any worse until Labour got back in. Now we really are in a mess. A political restructuring is needed. Otherwise we might as well just have to go on mass and get rid and demand a general election .
Once you've passed working and being a taxable asset to the country you're no longer wanted. Labour absolutely deplore pensioners..they want all their assets and then would prefer them to just disappear..... deplorable party...!!!!!!!
Pensioners have raped the country dry. About time they take a hit. They have been a huge voting block and stopped the country progressing. Most voted for Brexit which ruined me. I had to get on with it. They should do. After all theyre tough and im an entitled snowflake
Capital Gains Tax increases on business sale and equity sale is simply going to either delay, or cause wealth to leave the UK. Many business owners are looking to leave the UK already due to the labour win. Many predict that such an increase will actually cause a decline in tax revenue and also reduce jobs and future business creation in the UK. What I find stunning is people don’t realise that almost all business owners had to earn the money they invest, which they paid tax on, then they establish or invest in the business. Then they take the massive risk of business failure on top of that to then hope to earn a return, often after decades of effort and pay extra tax on that return with CGT. It’s not as if the original investment money was created out of thin air. And if you borrow the money, the interest rates and terms are much more punishing than they used to be due to inflation. Oh, and then you also pay all your corporation/business tax.
Re the “Stealth tax”. After Starmer’s speech I thought maybe they will lower the starting rate for the 40% tax band. Labour say things like the impact will be on those with the “broadest shoulders” and I believe they think that means those with an annual income around £45,000. Personally I have in the past been dubious about wealth taxes, as I always thought the real money would just leave the country, but I think it’s time to find out. It will be interesting to see how the change to the nom-dom rules work out.
I bought my home in 1993, for the price it was at that time, I had to take out a 25 year mortgage on which I paid interest on until the house was mine. So in cash terms that is exactly what the house has cost me, and in real terms it’s value today is a hypothetical value which will only be realised if I was to sell it, but the price I would get by this sale is relatively to the house market prices of today, so if I was to work out the costs of buying a house today, in relative terms, the percentage comparison may actually be less than the price I paid in 1993. So to reappraise the house prices to set new council tax bands would be disproportionate massively, because the services that we pay for through our council taxes, have not increased by the same financial levels, and once again those who have chosen to either not to own their own property, and to live in council, association or rented property will be once again better off. So where’s the incentive to having aspirations and ambitions in life if the government is going to constantly penalise you for it. Because if we all had the same attitude, then would the government be able to raise its taxes from.
You sound like a communist government should care. They don't because they are communists. It there something about the definition of a communist that you don't understand?
I think there is a lot of political scaremongering going on. Nobody really knows what Labour will do so the narrative is driven partly by people with vested interests in maintaining the gross inequities of our society. We are poor because govt has allowed it to happen. Let's see if Labour does better. Live inn hop!
I have paid the higher rate of tax all my life but had a stroke. I am lucky enough to own my own home and be financially well-off, just completely disillusioned with how politicians are running this country. Yes, I could sell up and move on, but due to health issues and family, it's not something I could do unless I could sort out the family financially before I left, hence the lottery money, sir. I am not a bum, so grow up before you throw insults at people. Engage your brain.
@@neil5877don't worry mate, this person is 100% a troll. Same boat, minus health issues.Hope your situation improves on that front buddy. There is near zero incentive to work hard, efforts will be futile now. Our kids are going to need generational wealth handed down, regular gifting of cash; also we've got to hatch a solid plan to have enough for retirement haha. Crazy times!
Agree that pensions are the obvious targets, although it's not clear how labour will approach it. I'd assume they would aim to increase taxes on the way in rather than on the way out as this would provide a more immediate solution (and repeatedly changing lifetime allowances would confuse people / complicate matters)
The Annual allowance was increased to persuade NHS consultants work more hours. If they reduce it from 60k to say 20k these doctors will just stop working. If they stop working how will labour fix the NHS?
People who own valuable family homes but are on low incomes like the retired and semi-retired will be forced to sell their homes with a property based tax. Even those that have stretched themselves to buy a nice home could be forced to sell up. A small increase in income tax rates would be a far more affordable way of collecting more tax. Increasing the basic rate by 1p or 2p would be fairer and less noticeable.
Respectfully attacking income or ANY tax for that matter is fucking ridiculous. They need to make REAL cuts and actually learn to efficiently manage the economy, if anything we need to desperately cut taxes and attract real investment. For example it's always infuriated me that we didn't match the Irish corporate tax rate of 12.5%, it could have been very possible from 19% and in my opinion it's nothing short of a joke to allow that to happen.
Frankly, politics aside...Labour are no better than Conservatives. However, Labour worries me and what they are doing on taxes. I'm just as worried now under Labour and their management as I was under Conservatives - actually more so. Labour's honeymoon is over - already.
You are an accountant Please make a video on where the government is spending people's money On wastage of tax by increasing public sector wages On wastage of f tax by the government Make them accoutable
The System that all GOVs operate in,is Keynesian ie Trickle Down e"CON"omics which is run by the BoE mafia &GOV but controlled by The Elite Establishment both Old&New MONEY.All the QE created overtime is our Inflation but crucially once created its TRANSFERRED to The Trickle Down tree but doesnt make it past first base.The £20Bn Black Hole they refer to is the annual interest payments to 2032 that GOV have to pay on the Losses of the BoE £200Bn QE liabilities.If they dont pay that then they cant borrow.So the Wests Central Bankers have eroded their own currencies buying power thru QE inflation &now they want the ppl to pay for it.(All Parties in GOV wud do the same,so its NOT the colour of the rosette) its The SYSTEM created by THEM for THEIR exclusive BENEFIT.So as their "CON"fidence Trick unfolds their aim is to ultimately have a 2 Tier System,The Ultra Rich&Powerful Globalist Elite who own literally EVERYTHING &run the World &the Dirt Poor,like in South American Flavellas,their Elysium our Dystopian/Reality.Net Zero is the next CON to get the Social Licence they need to Tax u out of your assets.There us a fix but because the MONEY ppl control everything it simply wont happen,thats Tax Wealth Not Work.Tax Wealth ie Asset Wealth greater then £10mill.Ppl will rebel but the best way is to decentralise out of their FAKE FIAT WORLD by doing what Central Banks are doing buying the ONLY real money in existence Gold&Silver,Food, Seeds,Land anything except keeping FIAT.When the Sunami Hits watch out for Bail Ins
@@danielcrafter9349 when NHS goes on strike for 10% pay rise, it is paid by you from your taxes. Public sector pay rises cones from your tax. They get a pay rise, you are taxed more , you have less to live on.
Public sector wages have seen a real-terms pay cut with the rate of inflation. Do you expect public sector workers to starve?! The extra money could EASILY be found to massively increase public spending for dramatically improved services and wellbeing of the people. Multiple Billions of tax revenue are not taken per year due to offshore tax havens and tax loopholes. Average rates of tax are minuscule on unearned income streams, hence a Wealth tax on individuals with assets >£10M would go a long way in redistributing wealth. The wealthy oligarchs have bought and plundered our government and its people; it’s gone far too far.
@@HazzyWazzey Public sector workers take a 10% pay rise by non. Public sector workers taking a 10% pay cut Their pay rise is causing the rest of the people to starve indeed. Besides public sector employer pension contributions are over 20% The total package is way above that of the average non public sector worker Greed It is not people who earn 10 million who are taxed It is ordinary people earning 50k
1) Anyone who doesn’t own land or a second home is fine. 2) Fiscal drag was a thing under the Cons. Hunt did exactly the same. This is even mentioned in the video but without actually saying that it was a result of Tory policy. This is already happening! 3) Least than 3% of people pay CGT, and that’s over a period of 10 years. Most people won’t need to worry about it. Look it up if you don’t believe me, there’s an article on LSE site about it. I know you don’t like Labour, we get it, but this is silly. Citing an article from the Telegraph isn’t the wisest either, given that it’s a Conservative supporting paper and is very anti-Labour, so hardly balanced.
Sorry but working people will have to pay extra tax if the Fuel Tax goes up working people who drive will pay extra as they need the car for work, Kids to school, GP, Shopping and Hospital Appointments and Leisure.
Yes in years to come people in caravans and vans at side of road due to housing crisis. There's hundreds of thousands who can never afford a property and really struggling in rented so van at side of road is affordable.
Public sector workers do not pay tax, that is an 'illusion' of the pay packet. (Their 'top line' is ficticious) When i pay tax, i pay with my money. When a public sector worker pays tax, they pay with my money. Either way, its always my (private sector) money that pays the tax.
It may not have been in the manifesto, and I know that, in some ways, Starmer’s Labour is largely centre-right, but did you not expect a Labour government to do any left-wing things at all?
@@keithhooper6123 Utter nonsense. 🤦♂️ You’ve been drinking GBNews/Daily Mail or right-wing Twitter kool-aid. Which of Labour’s policies under Starmer do you believe reflects Communism or extreme Socialism? I don’t think you even know what those terms mean.
The problem with country is you are told to save for your future, buy a nice house pay into a private pension scheme and the government will take it away from you.get a council house have loads of kids do not work get loads of benefits, if you never work when you get to retirement age you get pension credit, you are better off than someone who has worked all there life.
So true, it was done to help the large wealthy business landlord companies who could avoid all the extra tax charges imposed on smaller landlords. Just so they would encourage the small landlord to leave the sector allowing the big players like the banks to swallow up & increase their own portfolios. A Total scam. The conservatives are no better than Labour.
The idea my earnings from dividends and stocks is "unearned" and not "worked for" is insulting. Every penny I invest comes from from income. I've worked for it and already paid Income tax and NI on it. But instead of spurging on consumer goods, I invest it into the economy. And it is these investments that allow companies to expand and create more jobs. So the idea CGT needs to be equalised with Income Tax is absurd. Indeed, I and others should be rewarded for taking a part of our income and, rather than consuming it, invest it.
Good luck with that they are leaving. The reality is the state needs to control it's spending it's not the rich to stop that it's the corrupt government
@@tarquin161234 good luck they are leaving and taking all their wealth with them were they will set up jobs in New countries and opportunities but Labour supporters are so myopic they ignore the warnings and brand them as 'greedy' and the tax burden falls on the poor making inequality far worse. Socialism is the failed ideology that never died
@@danielcrafter9349 An idiot like you probably thinks that the 'Deputy Prime Minister' making a complete fool of herself in Ibiza is OK. She surprised no-one with her appalling behaviour.
@@allansmith3837 Ah yes. I have seen your posts before. I am here to tell you that you and your posts are remarkably irrelevant. Thanks for the post..... You can return to your dole application now. p.s. Please seek some punctuation, syntax and grammar lessons urgently. p.p.s Starmer has taken lying to an entirely different level. In a fiscal context, every single one of Labour's manifesto pledges has been broken. They lie and lie and lie. For example I recall very clearly before the election the OBR stating that the 'black hole' was between £10 and £20 billion. So, Reeves has, at maximum, £2B to argue about. Well she got £10B of that back from the quarter point interest rate reduction. Did you not wonder when asked about the interest rate cut that Reeves was very down-beat? Now you know. I suggest that you and the other twit do some homework before engaging in a big boys' conversation.
got rid of the corrupt robbing tories. Now we can tax the rich who have become richer over the last 15 years, causing the largest disparity of wealth in history.
@@lozzaridesemtbdidn't save us from the tories, just caused more trouble than the tories. Tories were the lesser of the evils. Labour will destoy this country.
This is going to make things really bad target the middle class middle class leave UK more poor and more elite rich exist makes it a very dangerous place to be in UK
Less than 2 minutes in and the first falsehood comes out. 'If the wealthy leave the economy will suffer'. No only the gross GDP. Wealth inequality would improve and the median GDP per capita would rise. Wealth inequality is the biggest economic challenge we face today.
So what their excuse for targeting us disabled ??? My landlady put my rent up 18 months ago by £150 per month ..last Mon she sent me an email saying she’s putting it up by £130 from the 1st Oct I’m already at the top of the London housing rent cap which means I will now have to pay out £30 per week for rent so I guess that’s me cutting back yet again on my heating this winter and probably food too
A friend's landlord put up their rent, because the council started a landlord license costing £550 for 5 years The landlord had no choice but to pass it on . After mortgage interest cannot be claimed as expense , landlords make a loss from renting. It is only the government who profits by taxing 40% of the rent
Your land lady sounds like she over-leveraged herself and is suffering with the increased interest rates. She should get the memo and f**k off, sell up and provide a much needed home to the market for a family.
High taxes high prices that’s the UK. So how do we save money? Stop foreign aid £15, billion, no more benefits for illegal immigrants £6, billion. Remove the tax on tourists shopping that will gain £3, billion. No income tax till you earn £15,000. People will spend that money and boost the economy and the government will get more in VAT.
@@connect4558 because income generated by wealth hasn't been worked for, therefore it's only fair that non work income is taxed at the same rate as work income. Why should all the tax burden fall on people who work?
@@Jamal-Ahmed786 Because I already paid shed loads of tax to save prudently for difficult times. So I don’t GAF, please happily pass on your money in taxes as you see fit!
@@connect4558 even if I agree that non employment income is "worked, sweated and stressed", what justification is there that this should be taxed differently to employment income. Don't people who work, are their income not "worked, sweated and stressed"?
Increase Council taxes will just get passed on to renters. People won't sell their homes they'll just remortgage. I think a lot of these prospective plans are there to make the working class feel better in the middle of a cost of living crisis
I vote 1 and 3 with the caveat that landlords shouldn't be allowed to pass the additional tax burden to tenants. Otherwise it is effectively just another tax on the least well off.
What makes you think landlord have this money? I have to work 2 1/2 jobs to pay my Morgages on the properties we have because they have doubled then trebled the interest rates, my tenants pay an extra £50 a month, so if one of the mortgages I have has increased payment by anther £270 they pay £50, I have to pay the £220 extra a month or sell the house and kick them out? Why do most people think land lords are either millionaires or make a fortune, I have worked 14 hour shifts 7 days a week for 38 yrs took huge risks and gambles to own approx 10 houses and I’ve never been as poor as I am know
@@johndineen7762 You probably won’t find too many willing to be sympathetic to the situation you’ve put yourself in. Maybe it’s time to downsize the portfolio, cut the loss-making ones? Many are getting out of the private landlord biz altogether. Maybe flog the lot, stick the proceeds in a safe 5-7% vehicle and maybe even retire?
I worked hard to buy my second property and live a frugal and financially sound life. I pay tax on my mortgage already ...whilst lazy people like you want handouts and others to pay for your life style.
Speculation. Why not do the responsible thing and just wait for the budget and stop spreading FUD (fear, uncertainty and doubt)? Just look at the comments below to see how people are jumping to conclusions based on zero actual data.
She’s an accountant. Financial planning is best when you plan ahead. Yes, we don’t know until the budget, but it’s wise to decide your plans for possible changes ahead of time so you can action those plans more quickly if the changes are implemented.
@@zotriczaoh7098 Well, we can be pretty confident they won’t be lowering taxes. She’s an accountant with a YT channel. Tax changes that the government has mentioned might be considered for the upcoming budget, and the implications for different types of incomes, seems exactly like the sort of thing she should be talking about.
@@zotriczaoh7098 Fair enough. I just think that discourse around stated intentions are important and valuable, especially when it comes to future government policies. Governments increasingly publicise a range of policy options ahead of making a decision as a way of ‘testing the water’ and getting some informal public feedback on how popular/unpopular each option is likely to be. It’s like ‘beta testing’ a policy without actually having to enact the policy first. A way of seeing what the public thinks without formally asking the public. 🙂 While they may not be checking the comments on this particular YT channel, it’s increasingly common to track ‘sentiment’ (‘sentiment tracking’) in online discussions using bots and AI.
The bit about reforming council taxes while probably required - perhaps they should focus on recovering the 4 billion unpaid council tax, rather than punishing the rest of us to make up the shortfall. Oddly that 4 billion is less than they will make from punishing pensioners who will probably go cold this winter, end up clogging our A&E's, and then clogging hospital beds for half the winter. using the NHS's heating instead of their own.
A very informative + helpful video. Labour always crushes people's motivation for hard work. The mansion tax in LA, California has led to increased homelessness + the creation of tent cities and an exodus of working age people moving to states with lower taxation rates. This is all Labour will achieve.
You think some of the people living on the streets are those who previously owned homes worth $5 million or more who couldn’t afford the ‘mansion tax’? 🤦♂️
@@akastewart Not just a mansion tax - but property tax (or their equivalent of our council tax) in general is very high making home ownership too costly for many younger professionals. Approx. 80% of America's homeless people are found in Democrat-controlled, high-taxation rate states/cities. Many Labour-run city councils in England also have some of the highest crime rates. Increasing council taxes will lead to similar problems here in the UK.
@@AW12-W True enough, but you directly attributed some homelessness directly to the mansion tax, which is unrealistic as it applies to properties worth $5M and up. I suspect there are exactly zero people who ended up living on the streets because they couldn’t afford the mansion tax.
@@akastewart Mansion tax is just another example of high property taxation rates in California, which has more homeless than most elsewhere in the US. It's why many young professionals are leaving the (not-so) Golden State.
@@AW12-W It doesn’t matter if the mansion tax is part of a larger programme of property tax. Your claim was that the LA mansion tax is a direct contributor to homelessness. So far you’ve skirted around it and moved the goalposts, rather than simply acknowledge that there is most likely not a single person that has ended up living on the streets because they couldn’t afford the mansion tax on their $5M+ property, and that therefore your original claim was nonsense.
Labour were elected by middle class people who earn big salaries workings for the state. Labour have to be careful not to bite the hand that feeds. Quality video by the way.
Wow! That's a lot of civil servants!!! 13.5 million people voted for Labour! Public records state that there are about half a million civil servants. I guess they hide 13 million under age prostitutes that MPs employ from official records or something?
@@MaitreyaNow Fwiw, they didn’t say ‘civil service’, they said work for the state. A little under 6 million people in the UK work in the public sector, though only a small fraction will be ‘middle class people earning big salaries’.
In the 2024 UK general election, the Labour Party received approximately 10.6 million votes. This was based on their 33.7% share of the total votes cast during the election
@@akastewart NHS doctors and support staff, teachers, police, army and their accountants plus others are NOT civil servants but will get nice pay rises and pensions. Labour must look after them.
The proposal to cap the contents of an ISA at £100k (or at all) is insane and probably unworkable (so possibly just a trial balloon with the slogan "at least they didn't" painted on the back). The only way it could be administered would be to breach the "wrapper" (invalidating the concept and destroying incentive) and require by law, presumably every April, the sale of assets in excess of the limit. Most people use ISAs as a form of flexible self managed savings/pension vehicle so the result will be to force sensible patient long term investors up the risk curve to compensate for the loss of tax exemption. If the objective is to force such people into complex risky investments likely to at least erode capital value such as covered call ETFs, then bravo. Most middle class earners have been using ISAs for decades to the extent they've had the wherewithal for annual contributions. An awful lot of ordinary people will be above the proposed £100k limit so it would be a one time smash and grab as the excesses get flogged off at forced seller prices and the money sloshes around without a tax wetsuit. But it's always the same. The middle is the fattest part of the pig.
Traditionally ISA’s have always had a slightly lower interest rate than say…bonds, due to the tax exemption within ISA interest accounts. Capping ISA’s at £100k for tax exemption would simply encourage people into bonds once the limit is breached, giving investors a similar net interest amount whilst also giving the tax man an extra slice of ££££’s.
@@Hurdy_guy I'm sorry but if you are purely using the isa for cash you using it entirely wrong. Personally I don't have a single penny in a cash ISA and instead i use the full allowance for my S&S ISA
Thank you for the content!! All we need is the right advice on how to invest in crypto and we will be set for life, I made over $86k from trading the crypto market this year
If you don't want to crash and burn, you should seek the advice of a fiduciary counselor when you first start out. Fiduciary -counselors have exclusive information and data paths that are not available to the general public. Understanding the direction of my Fiduciary-counselor "Audrey lauren
Probably not, but then you’re one of the decent hard working contributor to society, not some leach like creature that procreates and expects others to foot the bill🤦♂️
Hi Kiran - My husband falls under 40% income slab and I fall under Basic rate. If my husband transfer all the cryptos to me, will I pay 10% on CGT as of now ? Is it a right way to reduce taxes ?
Those with valuable homes and are no longer in work, will sell up and move abroad where life is cheaper, and the weather is warmer. We are going to see a tsunami of Billionaires and Millionaires leaving Britain. Then what?
You should re-watch the video. The only asset wealthy people potentially affected are those that have single property/land they live on and low income. Begs the question why they don't downsize and free up some assets so they have more disposable income? Perhaps something related to the video by the same TH-camr called How the Rich Avoid Taxes (Buy Borrow Die). In some cases there is sentimental attachment involved for sure and older people might struggle to adapt to new living arrangements but the renter class are forced to move sometimes scores of times over their life time so I'm not sure why I should show the asset wealthy any more sympathy than the working and renter class get. Millionaires and Billionaires are more tied to a country than other people due to the fact that you can't take most assets with you. The idea that they will pick up their Amazon warehouses and property portfolio and fly them out of the country is a myth that would be obvious if not for the fact it has been repeated and regurgitated constantly for many decades.
They already could do this but don't, the fact is even with tax their UK assets such as houses they rent out would still be good assets, some will sell their assets but not many and these assets will be bought by others in the uk
Rich and educated people have left and are leaving making it worse the government will lose the economic growth as more decent people will leave as will businesses
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I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
My advice: for newbies to grow financially this year, invest. Saving is good, but investing elevates your finances. Why newbie make huge losses on trade is because investing without proper guidance can lead to mistakes and losses. that will stop you from trading, this has been one of the biggest problem to new traders, I've learned this from my own experience
Tracy Britt Cool Consulting was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Tracy.
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week...
I keep hearing a lot about Mis. Tracy Britt Cool Consulting O'Reilly, she must be really good
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
I've been an investor in Apple, gold, housing market as well. because I strongly believe in them, I've always believed in the stock, but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla . especially now that we are experiencing a market correction
Both stocks have a long term potential, The most important thing is the ratio of the distribution based on the financials of each company. There are many other companies that are also doing well. You could just hire a financial advisor to guide you. A financial advisor really does help me do the distribution even between different asset classes. I don't even understand technical financial terms much. I just know I make really good profit, and I don't have to stress myself a lot.
I've got similar problems and I have also considered using an FA but I don't know how to go about it. Please, what are the steps for getting one? Like a really good one.
Gabriel alberto william is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send him an email, and I hope I'm able to reach him and connect.
The U.K is a middle income country at best. Anyone that wants to improve themselves should leave.
Thailand looks better every day!
So does Russia since 2TK s regime took over
@@richardattridge3182 ❤️
I did!
@@richardattridge3182they’re still a developing nation but every time I go there I see rapid development happening. Then when I get home and everything is broken or going backwards.
The thugs are stealing your hard earned income and threatening to put you in a cage if you say anything.
If I didn't have kids, I'd be out of this country TOMORROW!! This government is waging war against the middle class with terrifying speed. Your videos have really helped us prepare ourselves for the upcoming onslaught!! Thanks Kiran!
💯 In the same boat
Same! Now I am even thinking to go anyway... no point working in the UK anymore. So much tax already and pinalising hard working people big time! Enough is enough!
I don’t know why we have so many idiots in Britain who voted for labour.
I feel the same way.
Ignorant Brits who voted for Brexit and Labour Party and those who are unfriendly/unwelcoming towards foreigners shouldn’t be allowed to leave the UK
At this point, they do not deserve to be called Labour. They aren't standing for ordinary working people at all.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I can’t know your situation but saving cash always drops, are you investing?
It's sad that people would rather die peacefully under the thumb of such a government, than fight it.
Vote Reform🇬🇧🇬🇧🇬🇧
i got screwed over by blair, brown labour government at the start of my career. conservatives carried on the bad policies of labour. Doing the right thimg wont ever win elections hence why democracy will always fail. lucky i found this out long ago early in my career. im 41 now, i dont think it would be too bad for me, i live well below my means and have positioned myself in a way that if i get hit, so will most labour voters. ofc i dont want to be that way, but country is rotten to the core. nobody was asking where all that qe money to bail out banks in 2009 was coming from. this resulted in an economy where productivity flat lined. businesses never wanted to innovate as they had access to cheap foreign labour and cheap loans due to keeping interest rates artificially low hence why i needed to invest abroard. also due to qe and zirp they destroyed savings rates and the purchasing power of gbp. if you look at a 10 year chart of gbp to usd, you will see gbp has declined by about 20 percent. commodities are priced in usd after all. if the pound stayed strong fuel bills would be lower. but then you will have the lot with big mortgages complaining as the boe would need to keep base rates higher. anyway if it gets too bad in the uk, i can leave. could rent my house out in SE i guess. i already work remote anyway as a software developer. You get what you voted for
On purpose
How about an annual "Wealth TAX" on ALL politicians and peers, their earnings, expenses and assets. Followed up with a zero foreign aid, zero benefits and costs for illegal immigration and reducing VAT to 10% across the board (no flat rate) that is no reclaimable. The latter would raise £Billions and save company's and the government a fortune in admin.
That's common sense and doesn't fit the WEF agenda will it? 😂
...assets and envelopes that they find
You'll notice the mandatory VAT registration threshold has not changed much in years. More and more small business have to levy Vat at 20%
Well said wealth tax on all politicians and elites first they can lead the way
Brits never mention the billions they would have saved by not going to war which would have resulted in less refugees to deal with 😂
That's why I support Reform uk as they suggest to raise the basic tax rate threshold to 20K and the highervtax band to 70K to get people working and incentives to earn more.
How do we pay for things like the NHS then?
@@grolfe3210all that money saved from brexit 😂 we got people turning to reform 😂 When is this stupidity going to end? 😂
@@grolfe3210 According to Richard Tice, you charge more National insurance from foreign workers (health care workers exempt) which raises £4billion, stop voluntary interest payments to the BOE which raises £35 billion, reduce illegal immigrants by leaving EHCR and deporting them would save £8 billion, cut out wasteful government spending in the public sector (bloating with staff increase of 600000 since 2019) would save £50billion, half the foreign aid would save £4 billion. Reform wants to write off student fees pro rata per year over 10 years of NHS service for all doctors, nurses and medical staff.All frontline NHS and social care staff would pay zero basic rate tax for three years to ‘help retain existing staff and attract many who have left to return’. There would no longer be training caps for all UK medical students.
These are reasonable policies by reform that would likely improve the NHS service.
@@grolfe3210 Niggle wants us all to have private health insurance. He's alright Jack. Screw the poor.
@@SK-kh2rs The more the working people would earn, with more disposable income, the more they have a chance in saving to buy assets and build up wealth. At the moment, the so called middle class is asset poor due to the fiscal drag from the frozen income tax thresholds whereas the wealthy minority enjoy a much lower tax rate from capital gain and tax havens. The current tax threshold doesn't take into account the culminating inflation over the past 30-40 years. Earning 50K today doesn't equate to the 50K in the 1980s anymore.
I feel motivated to leave the UK and go somewhere with better weather and less 💩 government
Many have left and many are going very sad
India needs talent
Ignorant Brits who voted for Brexit and Labour Party and those who are unfriendly/unwelcoming towards foreigners shouldn’t be allowed to leave the UK or complain
Brexit made that harder to do.
There is no incentive in the UK to work hard and be successful anymore. All labour want to due is take the success of others and share it with the masses. 😡
That's socialism for you....perhaps communism next. God help us.
And remember the Tories and Lib Dem’s are basically the same just slightly lower rates. Reform might not be perfect but they are the only opposition.
Literally socialism in a nutshell. Make everyone equally miserable
@adamlaw5225.
Britain sold out in 1980s, No brit car brand british anymore ,except for Morgan. Media and govts Zipped as world bought all,harrods,boots,
Ritz,&carlton gone
as have other 5 star hotels ,football going .
Heathrow sold ,now gatwick bought by
Billionaire from Nigeria .last week all
On shore wind farms sold by british Greed to a chinese billionaire in Hong-Kong. Li- something google .
Do you know weetabix ,hamleys and 1000s sold to keep brits afloat .
Mcvitivies digestives,jaffa cakes,
Penguins owned by yeldiz holdings turkey
Tragic all getting sold but a bubble called arrogance remains .
It's time for mass refusal to cooperate with government and their agencies.
Poll tax?
Totally agree but you try and get everyone to stand together in this country these days, the lethargy is incomprehensible.
@@philmipants6337 It doesn't take everyone. If you recall with the Poll Tax, everyone was pissed off but the outcry on the streets forced a change and a resignation.
@@bigben8272 everyone phone in sick for a month or until Labour goes. They can not arrest you for that.
All the points mentioned have been done by the Tories.
Who would you like them to stop paying Teachers or Nurses?
People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
I concur. In light of individual experience working with a financial adviser, I presently have over $1m in a very much enhanced portfolio that has encountered dramatic development. It's not just a matter of having money to invest in stocks. you also need to be knowledgeable, persistent, and have strong hands to support your investment
That's an intriguing outcome. How can I contact your Asset manager?
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Dont try to better your life, start any kind of business, provide jobs. Just be a bum and own nothing
That is literally it, every bit of information I see I'm hopeful for hope but then it comes back to exactly that it is far better to just survive, have a less stressful job and claim all you can. A pitiful situation.
Or offshore everything you can so it doesn’t attract UK tax.
I did set up a engineering consultancy but IR35 destroyed it, I wanted to focus on R&D, robotics and space and develop some of my own ideas. I’m just ticking along now, cut all my overheads, put all the business money into the mortgage and looking into emigrating, it’s impossible to get anywhere in the UK, especially if you come from a working class background and end up funding your way though science degrees and astronautics etc.
Capital gains tax is a tax on nominal gains, not allowing for inflation so you can find yourself paying tax on a real terms loss if you've held an asset for a few years of cumulative CPI growth. If they raise the % rate its only fair to bring back something like indexation allowance.
Wasn't it Nigel Lawson who brought this in years ago?
Completely agree, however, I doubt this would result in a notable increase in tax receipts for the gov, noting that most people won't be sitting on significant gains in real terms. So this change of policy may not be opted for by the gov as its not solving their problem.
@@OGFurybut it’s a political gain for those not in the know (ie the masses)
@@jasonlewis4686 No, but he did extend it. It was gradually abolished over subsequent decades.
@@OGFuryThe Lib Dems estimated in their manifesto costings that a policy of aligning capital gains tax rates with income tax* whilst also bringing back indexation allowance would raise an extra £5.5 billion a year. This compares to £14 billion if you simply aligned the rates.
*The tax band used would be calculated exclusively on the size of the capital gain, rather than accounting for your ordinary tax band as at present.
But the middle class are working people.
@carolholloway7449 Well that's disgusting.. those people worked for their savings and assets.
@@Vanosphere Of the people I know, the ones who have spent the last 30 to 40 years pissing their money up the wall are the ones who have the best lifestyles, no official employer, plenty of leisure time (when they're not working cash in hand) and all the luxuries, if not more so than those that work. It pays to be a headworker.
For a lot of us the only chance of ever getting a boost to escape poverty is inheritance. Labour are even robbing us of that. There's going to be a lot more homelessness soon.
I thought the idea of meritocracy was that you have to earn your wealth? Not just have it given to you as a gift.
@@theresevoerman7109I thought the idea of my life, was to do exactly as I PLEASE WITH MY WEALTH? be it giving it away to my family as an inheritance, thank you? You go right ahead and give your wealth to all and sundry and I’ll fully support you.
God why did people vote for labour!? If you did you only have yourself to blame so don't complain.
Well you can't rent anywhere anymore that is half decent, the government already destroyed the rental business
Why are there so many idiots in Britain who voted for labour. I dont know why so many people are complaining now when they knew labour would do this
The problem now is, we are reaching a tipping point in Britain where non productive people living on state largesse will very soon be greater than productive people who pay tax for the largesse. The government are clearly targeting people in Britain who appear to have wealth, and may even have wealth, in order to take from those people, in an ever increasing tax grab, in order to transfer this wealth from the productive, to the non productive. This cannot go on in perpetuity. People are beginning to realise that this Communist Labour government will make everyone poorer and they are now waking up to the realisation that it may be time to leave the sinking ship for another country where the tax burden is far less and freedoms are not under attack.
Great informative video btw.
Correct
That's exactly why I took a pay cut (higher to lower tax bracket), paid off my mortgage and will pack in work quicker. Will become a scrounger since it's better being a dosser in the UK now. I am a highly educated professional but will play the system if they want to be stupid
We have also imported 1.6 million non working foreigners....Great, I hate paying tax because the government don't know how to spend my money.
Why we pretending most are productive 😂 Most people moaning here are not very good at their jobs. Most companies have the 10% super talents who carry the rest. Most people were begging for a lockdown so they get paid holiday. Well that comes at a cost. Most people voted for brexit and still cant accept it was a cock up 😂 EuRozOne iS nOt doInG wElL they will scream 😂 Most people stayed silent voted in people who were pro Libya and Iraq wars which caused refugee crisis. Most people have been living in a bubble and not realised once other nations caught up in this competitive world, Britain was going to struggle massively
Hence the 5.5% pay rise for the public (non wealth creating) sector.... complete madness ..... ?
There’s a VERY OLD SAYING, dogs bark, cows moo, and labour raise taxes, nothing has changed.
Nonsense. The Conservatives also who have put up taxes. I do wonder where all the money has gone. Maybe we should be told
We’re still under the highest national tax burden in 70 years, which was implemented by the last Tory government.
Except we have the highest tax burden in 70 years and labour havent done a budget yet 😬 awkward that
@At_the_races.
A lot has changed you lot don't own much as the world employs you .media mum ,govt
Mum since 1980s.Every car company or brand owned by foreigners
Fact except for Morgan. Heathrow sold, followed by gatwick to a billionaire from Nigeria. Harrods,selfridges,
Weetabix most 5 star hotels like The ritz & carlton .hamleys
By the way mcvities
Digestives,jaffa cakes sold to yeldiz Holdings of turkey .
The world employs see google what else foreigners bought .
Football going all gone but arrogance remains .1st world but assets foreign.
Nhs fading all falling apart .
Ah classic brain rot
How can a man who doesn't know what a woman is run our Country.
Whats a woman?
@@SK-kh2rs
A woman is born with a uterus cervix & Overy and can give birth to children. Her Pelvis is also different so she can give birth to children. She doesn't have a penis.
He probably doesn't know he's a he as well
He probably doesn't know he's a he as well
In a frock
Finally manage to claw my way out of being broke through investing in the stock market and now they want 45% of that. Thanks a lot!
And to top it off, you took all the risk
not if its in a tax wrapper and its CGT thats potentially going to get hiked and probably not by much...
Labour have exceeded all of my expectations for failure, spitefulness, hypocrisy and incompetence. This should cement one term and then we can start to repair this country.
So... did labour break nhs? Did labour increase taxes since 2009? Did labour keep real income flat for 10 years? Did labour increase the % of poor people to the highest in 50 years? Tori broke the country and it needs repairs. Pills for healing can be bitter short term, true
WHY did people vote Labour ???
…..because they didn’t do 10 mins “real” research to see what “real” communists they are.
Because they are stupid 🤷🏼
Because they were blind and couldn't see through the WEF/Davos puppet thug called Kier Starmer
The problem is how can a minority vote get a gov a very large majority, they only got 34% of those that actually voted, we are supposed to be a majority rule country, how have we allowed all our NGO'S to be infiltrated by the loony left, n what's to say the electoral commission is not the same, the electoral system has been shown to be a joke, nearly two thirds voted against this anti English party.
The vast majority did not, to be fair.
Quit work & focus on true happiness. A happiness that can only be found by spending more time with your family. The government can’t tax that!
I think you skipped a step. How do you pay your bills?
dont give them ideas they will find a way
Tax on property that is your home should be illegal, it can simply drive you into poverty and force you to sell if you cannot afford to pay for whatever reason.
I'm retired with a very modest portfolio to support me , barely getting by and any increase in tax will sink me , this is the reality for a lot of people, but if you are claiming benefits it's fine, if you are working you can ask for a pay rise or work more hours.
Unfortunately there are simply too many old people no longer working which is unaffordable apparently ( yet still we can afford aid to other countries etc etc ).
I paid my dues all my working life and saved for my retirement and now I'm screwed thanks to decades of useless government inability to do the same ..
Increases in VAT will only hurt you if you are a spender. We have to accept the government has to raise money, the only question is how?
I'm in my early 40's and it's looking like I'll be in a similar position - possibly worse by the time all new taxes / theft is introduced. If you had to do it again, would you have emigrated?
So we can't expect any growth of the economy. Why fleece us so much? this is mad.
They hate you do you not get it yet?
Because you have had it easy for decades and now its time to pay
@@SK-kh2rsHow do you come to that conclusion, you haven’t lived my life?🤦♂️
how do you expect investment into the economy needed for growth without raised taxes?
The more money you take out of people’s pocket the less they spend in the economy
So give everyone a rise, and tax the millionaires that hoard it away.
The money still benefits the economy if govt spends it on public goods like the NHS. In fact there can be a multiplier effect if spending benefits large numbers of people through better services leading, for example, to better health and less individual burden of caring for the elderly. Govts are too timid and reluctant to educate the public.
@Roadrunner_1000 And yet they keep getting richer as the poor get poorer.
I’m out of ere and off to Thailand
Probably my long term plan but saw something on TH-cam saying Thailand may be affected by WEF longer term but think if join BRICS they won't. Let's hope
I hear Ko Samui has a good, chilled vibe if you’re heading out and (semi-)retiring.
I’m doing the same
Your only hope of getting a woman is buying one from there
Be very careful people, Thailand it's not what you think. Do your homework then do it again.
Shame on labour and their voters, never again.
The US has a really interesting tax. You pay a property tax (like our council tax) as a percentage of between 0.7 and 2% of the property's valuation. Some owners in some streets in London will be paying £10,000 a month in property tax if we adopt the same. Brings a tear to your eye, doesn't it. 😮
Not really. Because council tax is paid by tenants, who can't afford own house
Why not have a tax on people walking on the cracks in the pavement ? The Labour party said everything is costed and there is no need for tax risers, before the election, how things have changed and so quickly.
I am retired. Now 68yrs. Have paid Nat Insurance for 50yrs. Saved into a pension since I was 20yrs old and I’m now told I may lose the state pension. Leaving me worried and stressed as I still have a mortgage and family to support. Is this how my Government should be treating me? No. It is shameful. There are many many people in this same position.
Fantastic advice, so the hard we work the more risk we do is for nothing other than to pay labours taxes, if we work out for every £1 we make how many times we are tax on that £1 and what we really end up in our pocket from that £1? Total disgrace we man as well lye around get benefits and not work 100+ hours a week having no free time taken huge gambles on projects we’re we could be in debt our whole life if it goes wrong to buying your own family home, sum up labour are shithouses who are wasting 10s of billions on migrants and giving money away to other countries and so much for a Mans home is his castle
This is what Labour have always been. Tax and spend. Or tax and borrow and spend. They will achieve growth but, just like last time it will all be built on sand and it will collapse. They 1.5 million houses is for wealth creation not people to have more affordable good housing.
You don’t create anything by giving public sector workers massive pay rises with nothing to show for it except them doing their jobs.
They’re wasting ten thousand million pounds on overseas climate aid. What the actual Fark! I know it’s 10 billion but it sounds worse when you say 10 thousand million pounds.
We are actually giving other countries money to improve their roads. You couldn’t make it up.
@@davideyres955we also loaned money with interest to iraq to improve their infrastructure after bombing it 😂 what’s your point? All foreign aid isnt charity. Its done to gain some influence. You want to believe we give it away and give everything to migrants so you got someone to blame for your shitty life
Seems that the solution could be to just leave everything alone, keep the tax levels as they are and just let fiscal drag to all the heavy lifting. They need to be careful as once they start upsetting decent earners in the public sector they will be out come the next election.
or leaks to embarrass minister, ask the tories.
they literally raised public sector wages
Many people use their main property as part of their pension plans since they didn't accrue sufficient assets while working for an annuity. If the chancellor imposed a land or wealth tax on primary homes many pensioners could find themselves rapidly impoverished, and Labour may find itself facing extinction. After the euphoria of the election how rapidly things have 'gotten worse'
I didn’t think things could get any worse until Labour got back in. Now we really are in a mess. A political restructuring is needed. Otherwise we might as well just have to go on mass and get rid and demand a general election .
Once you've passed working and being a taxable asset to the country you're no longer wanted. Labour absolutely deplore pensioners..they want all their assets and then would prefer them to just disappear..... deplorable party...!!!!!!!
Pensioners have raped the country dry. About time they take a hit. They have been a huge voting block and stopped the country progressing. Most voted for Brexit which ruined me. I had to get on with it. They should do. After all theyre tough and im an entitled snowflake
@@lynnfincham6839 Very true...then there's death taxes and indeed inheritance tax...it never ends...👍👍👍👍👍
So that's why we had covid euthanasia. Evil people.
Capital Gains Tax increases on business sale and equity sale is simply going to either delay, or cause wealth to leave the UK. Many business owners are looking to leave the UK already due to the labour win. Many predict that such an increase will actually cause a decline in tax revenue and also reduce jobs and future business creation in the UK. What I find stunning is people don’t realise that almost all business owners had to earn the money they invest, which they paid tax on, then they establish or invest in the business. Then they take the massive risk of business failure on top of that to then hope to earn a return, often after decades of effort and pay extra tax on that return with CGT. It’s not as if the original investment money was created out of thin air. And if you borrow the money, the interest rates and terms are much more punishing than they used to be due to inflation. Oh, and then you also pay all your corporation/business tax.
Re the “Stealth tax”. After Starmer’s speech I thought maybe they will lower the starting rate for the 40% tax band. Labour say things like the impact will be on those with the “broadest shoulders” and I believe they think that means those with an annual income around £45,000.
Personally I have in the past been dubious about wealth taxes, as I always thought the real money would just leave the country, but I think it’s time to find out. It will be interesting to see how the change to the nom-dom rules work out.
The irony is, that middle class "socialism" is really trendy right now. Those "OK yah's" are are going to come down to earth with a bang.
Useful idiots.
The Sheriff of Nottingham was obviously a Labour voter!
Love these videos, so insightful and finally something easy to understand!
Congrats on the channel growth
Keir Starmer - I won't tax the working class. Keir Starmer's definition of working class is someone without savings!
Can we have a VOTE OF NO CONFIDENCE....ASAP PLEASE!!
You can try but people voted for them only 2 months ago so probably won't happen. Not everyone is part of a vocal minority on youtube
I bought my home in 1993, for the price it was at that time, I had to take out a 25 year mortgage on which I paid interest on until the house was mine. So in cash terms that is exactly what the house has cost me, and in real terms it’s value today is a hypothetical value which will only be realised if I was to sell it, but the price I would get by this sale is relatively to the house market prices of today, so if I was to work out the costs of buying a house today, in relative terms, the percentage comparison may actually be less than the price I paid in 1993.
So to reappraise the house prices to set new council tax bands would be disproportionate massively, because the services that we pay for through our council taxes, have not increased by the same financial levels, and once again those who have chosen to either not to own their own property, and to live in council, association or rented property will be once again better off. So where’s the incentive to having aspirations and ambitions in life if the government is going to constantly penalise you for it. Because if we all had the same attitude, then would the government be able to raise its taxes from.
You sound like a communist government should care. They don't because they are communists. It there something about the definition of a communist that you don't understand?
Absolutely 💯
Can you claim for the local tax and cost of repairs and bills for running the home plus inflation obviously twice the official rate.
I think there is a lot of political scaremongering going on. Nobody really knows what Labour will do so the narrative is driven partly by people with vested interests in maintaining the gross inequities of our society. We are poor because govt has allowed it to happen. Let's see if Labour does better. Live inn hop!
Honestly, if I had the money, I would leave the UK come on that lottery win 😂
You've got to be in it to win it n all that 🤞Good luck.
Relying on lottery cause you got no skill 😂 bum basically
Where would you go?
I have paid the higher rate of tax all my life but had a stroke. I am lucky enough to own my own home and be financially well-off, just completely disillusioned with how politicians are running this country. Yes, I could sell up and move on, but due to health issues and family, it's not something I could do unless I could sort out the family financially before I left, hence the lottery money, sir. I am not a bum, so grow up before you throw insults at people. Engage your brain.
@@neil5877don't worry mate, this person is 100% a troll.
Same boat, minus health issues.Hope your situation improves on that front buddy. There is near zero incentive to work hard, efforts will be futile now. Our kids are going to need generational wealth handed down, regular gifting of cash; also we've got to hatch a solid plan to have enough for retirement haha. Crazy times!
Pension annual and lifetime allowances are obvious targets imo.
May be but their paymasters in civil service are raking it in and will have to pay more tax, so no
Good
Agree that pensions are the obvious targets, although it's not clear how labour will approach it. I'd assume they would aim to increase taxes on the way in rather than on the way out as this would provide a more immediate solution (and repeatedly changing lifetime allowances would confuse people / complicate matters)
The Annual allowance was increased to persuade NHS consultants work more hours. If they reduce it from 60k to say 20k these doctors will just stop working. If they stop working how will labour fix the NHS?
I mean not just the allowances but also the tax reliefs on contributions, tax free lump sum, IHT on pension pots...etc
People who own valuable family homes but are on low incomes like the retired and semi-retired will be forced to sell their homes with a property based tax. Even those that have stretched themselves to buy a nice home could be forced to sell up. A small increase in income tax rates would be a far more affordable way of collecting more tax. Increasing the basic rate by 1p or 2p would be fairer and less noticeable.
Respectfully attacking income or ANY tax for that matter is fucking ridiculous. They need to make REAL cuts and actually learn to efficiently manage the economy, if anything we need to desperately cut taxes and attract real investment.
For example it's always infuriated me that we didn't match the Irish corporate tax rate of 12.5%, it could have been very possible from 19% and in my opinion it's nothing short of a joke to allow that to happen.
This will drive the price of houses down, and value of land will drop.
Frankly, politics aside...Labour are no better than Conservatives. However, Labour worries me and what they are doing on taxes. I'm just as worried now under Labour and their management as I was under Conservatives - actually more so. Labour's honeymoon is over - already.
What are your thoughts on ISAs? Could Labour reduce the annual allowance or even start removing the tax-free benefits?
You are an accountant
Please make a video on where the government is spending people's money
On wastage of tax by increasing public sector wages
On wastage of f tax by the government
Make them accoutable
How is increasing wages "wasting tax"???
The System that all GOVs operate in,is Keynesian ie Trickle Down e"CON"omics which is run by the BoE mafia &GOV but controlled by The Elite Establishment both Old&New MONEY.All the QE created overtime is our Inflation but crucially once created its TRANSFERRED to The Trickle Down tree but doesnt make it past first base.The £20Bn Black Hole they refer to is the annual interest payments to 2032 that GOV have to pay on the Losses of the BoE £200Bn QE liabilities.If they dont pay that then they cant borrow.So the Wests Central Bankers have eroded their own currencies buying power thru QE inflation &now they want the ppl to pay for it.(All Parties in GOV wud do the same,so its NOT the colour of the rosette) its The SYSTEM created by THEM for THEIR exclusive BENEFIT.So as their "CON"fidence Trick unfolds their aim is to ultimately have a 2 Tier System,The Ultra Rich&Powerful Globalist Elite who own literally EVERYTHING &run the World &the Dirt Poor,like in South American Flavellas,their Elysium our Dystopian/Reality.Net Zero is the next CON to get the Social Licence they need to Tax u out of your assets.There us a fix but because the MONEY ppl control everything it simply wont happen,thats Tax Wealth Not Work.Tax Wealth ie Asset Wealth greater then £10mill.Ppl will rebel but the best way is to decentralise out of their FAKE FIAT WORLD by doing what Central Banks are doing buying the ONLY real money in existence Gold&Silver,Food,
Seeds,Land anything except keeping FIAT.When the Sunami Hits watch out for Bail Ins
@@danielcrafter9349 when NHS goes on strike for 10% pay rise,
it is paid by you from your taxes.
Public sector pay rises cones from your tax.
They get a pay rise, you are taxed more , you have less to live on.
Public sector wages have seen a real-terms pay cut with the rate of inflation. Do you expect public sector workers to starve?!
The extra money could EASILY be found to massively increase public spending for dramatically improved services and wellbeing of the people.
Multiple Billions of tax revenue are not taken per year due to offshore tax havens and tax loopholes. Average rates of tax are minuscule on unearned income streams, hence a Wealth tax on individuals with assets >£10M would go a long way in redistributing wealth.
The wealthy oligarchs have bought and plundered our government and its people; it’s gone far too far.
@@HazzyWazzey
Public sector workers take a 10% pay rise
by non. Public sector workers taking a 10% pay cut
Their pay rise is causing the rest of the people to starve indeed.
Besides public sector employer pension contributions are over 20%
The total package is way above that of the average non public sector worker
Greed
It is not people who earn 10 million who are taxed
It is ordinary people earning 50k
1) Anyone who doesn’t own land or a second home is fine.
2) Fiscal drag was a thing under the Cons. Hunt did exactly the same. This is even mentioned in the video but without actually saying that it was a result of Tory policy. This is already happening!
3) Least than 3% of people pay CGT, and that’s over a period of 10 years. Most people won’t need to worry about it. Look it up if you don’t believe me, there’s an article on LSE site about it.
I know you don’t like Labour, we get it, but this is silly. Citing an article from the Telegraph isn’t the wisest either, given that it’s a Conservative supporting paper and is very anti-Labour, so hardly balanced.
Sorry but working people will have to pay extra tax if the Fuel Tax goes up working people who drive will pay extra as they need the car for work, Kids to school, GP, Shopping and Hospital Appointments and Leisure.
Love the info graphics you use!
So we end up living in tents and migrants end up living in our homes.
Don't start that 😅
@@User677-56 I didn't, Labour did.
It's only fair
@@airvicemarshalsirgeorgemas2083 Do I detect a note of sarcasm ?
Yes in years to come people in caravans and vans at side of road due to housing crisis. There's hundreds of thousands who can never afford a property and really struggling in rented so van at side of road is affordable.
Public sector workers do not pay tax, that is an 'illusion' of the pay packet.
(Their 'top line' is ficticious)
When i pay tax, i pay with my money.
When a public sector worker pays tax, they pay with my money.
Either way, its always my (private sector) money that pays the tax.
Who are these people with influential opinions? What about the electorate? None of this was in the manifesto?
It may not have been in the manifesto, and I know that, in some ways, Starmer’s Labour is largely centre-right, but did you not expect a Labour government to do any left-wing things at all?
Certainly not anywhere near centre right.Communists,and extreme socialists
@@keithhooper6123 Utter nonsense. 🤦♂️ You’ve been drinking GBNews/Daily Mail or right-wing Twitter kool-aid. Which of Labour’s policies under Starmer do you believe reflects Communism or extreme Socialism? I don’t think you even know what those terms mean.
@@keithhooper6123and non-winners
Politicians all make false promises if only the tower of London was still in use
The problem with country is you are told to save for your future, buy a nice house pay into a private pension scheme and the government will take it away from you.get a council house have loads of kids do not work get loads of benefits, if you never work when you get to retirement age you get pension credit, you are better off than someone who has worked all there life.
Thank you.
The asset is worth what someone is willing to pay, irrelevant of what price an independent valuation puts on it..
The Tories did a pretty good job of shafting small landlords by abolishing tax relief on interest only mortgages.
So true, it was done to help the large wealthy business landlord companies who could avoid all the extra tax charges imposed on smaller landlords. Just so they would encourage the small landlord to leave the sector allowing the big players like the banks to swallow up & increase their own portfolios. A Total scam. The conservatives are no better than Labour.
Which in turn hurts tenants as the resulting shortage pushes rent up.
Wouldn’t be so much of a shortage if landleaches sold up and provided the market with family homes that are desperately needed.
@@HazzyWazzeyyou sound like an awful excuse for a human being.
The idea my earnings from dividends and stocks is "unearned" and not "worked for" is insulting.
Every penny I invest comes from from income. I've worked for it and already paid Income tax and NI on it.
But instead of spurging on consumer goods, I invest it into the economy.
And it is these investments that allow companies to expand and create more jobs.
So the idea CGT needs to be equalised with Income Tax is absurd.
Indeed, I and others should be rewarded for taking a part of our income and, rather than consuming it, invest it.
We need to tax the super rich, somehow. The imbalance between people/states and the super rich is exacerbating every year.
Good luck with that they are leaving. The reality is the state needs to control it's spending it's not the rich to stop that it's the corrupt government
yes, capital gains tax rises, higher tax on second homes and luxury goods all great ideas
Will it make you more wealthy? Very doubtful.
@@tarquin161234 good luck they are leaving and taking all their wealth with them were they will set up jobs in New countries and opportunities but Labour supporters are so myopic they ignore the warnings and brand them as 'greedy' and the tax burden falls on the poor making inequality far worse. Socialism is the failed ideology that never died
Lol you fool all the super rich have already left the uk. That's why Labour can only go tax the middle class now
With UK taxes at a 70 year high, why does the government need to increase tax still further?
Perhaps people are forgetting that Starmer promised, during one of the leader debates, that Labour WOULD NOT introduce any wealth taxes.
No he didn't!
Omg you lot really can't help lying!
@@danielcrafter9349 Just Google Labour and no wealth tax. Idiot.
Don't you know politicians tell lies 😂 its a big part of the job😂
@@danielcrafter9349 An idiot like you probably thinks that the 'Deputy Prime Minister' making a complete fool of herself in Ibiza is OK. She surprised no-one with her appalling behaviour.
@@allansmith3837 Ah yes. I have seen your posts before. I am here to tell you that you and your posts are remarkably irrelevant. Thanks for the post..... You can return to your dole application now. p.s. Please seek some punctuation, syntax and grammar lessons urgently. p.p.s Starmer has taken lying to an entirely different level. In a fiscal context, every single one of Labour's manifesto pledges has been broken. They lie and lie and lie. For example I recall very clearly before the election the OBR stating that the 'black hole' was between £10 and £20 billion. So, Reeves has, at maximum, £2B to argue about. Well she got £10B of that back from the quarter point interest rate reduction. Did you not wonder when asked about the interest rate cut that Reeves was very down-beat? Now you know. I suggest that you and the other twit do some homework before engaging in a big boys' conversation.
So if I stay I pay increased council tax but if I sell I pay capital gains tax?
Too any voter who put a X in the labour box in July
“ WHAT HAVE YOU DONE “
You fools ..... Labour....really!!!
Saved us from the tories
got rid of the corrupt robbing tories. Now we can tax the rich who have become richer over the last 15 years, causing the largest disparity of wealth in history.
@@lozzaridesemtbdidn't save us from the tories, just caused more trouble than the tories. Tories were the lesser of the evils. Labour will destoy this country.
@@lozzaridesemtb Simpleton.
Not forgetting pensions, ISA limits, fuel duty, Inheritance Tax thresholds…..
This is going to make things really bad
target the middle class
middle class leave UK
more poor and more elite rich exist
makes it a very dangerous place to be in UK
Less than 2 minutes in and the first falsehood comes out. 'If the wealthy leave the economy will suffer'. No only the gross GDP. Wealth inequality would improve and the median GDP per capita would rise. Wealth inequality is the biggest economic challenge we face today.
So what their excuse for targeting us disabled ??? My landlady put my rent up 18 months ago by £150 per month ..last Mon she sent me an email saying she’s putting it up by £130 from the 1st Oct I’m already at the top of the London housing rent cap which means I will now have to pay out £30 per week for rent so I guess that’s me cutting back yet again on my heating this winter and probably food too
A friend's landlord put up their rent, because the council started a landlord license costing £550 for 5 years
The landlord had no choice but to pass it on .
After mortgage interest cannot be claimed as expense , landlords make a loss from renting.
It is only the government who profits by taxing 40% of the rent
My BTL is a loss making charity cause🤦♂️
Your land lady sounds like she over-leveraged herself and is suffering with the increased interest rates. She should get the memo and f**k off, sell up and provide a much needed home to the market for a family.
High taxes high prices that’s the UK. So how do we save money? Stop foreign aid £15, billion, no more benefits for illegal immigrants £6, billion. Remove the tax on tourists shopping that will gain £3, billion. No income tax till you earn £15,000. People will spend that money and boost the economy and the government will get more in VAT.
I'm a social Democrat. I don't believe in a blanket wealth tax. In my opinion what should be taxed is the income that is generated from that wealth.
And who made you judge, jury and executioner, to decide how my wealth’ is distributed?🤦♂️
@@connect4558 because income generated by wealth hasn't been worked for, therefore it's only fair that non work income is taxed at the same rate as work income. Why should all the tax burden fall on people who work?
It’s been worked, sweated and stressed for me, but oh that doesn’t matter🤦♂️
@@Jamal-Ahmed786 Because I already paid shed loads of tax to save prudently for difficult times. So I don’t GAF, please happily pass on your money in taxes as you see fit!
@@connect4558 even if I agree that non employment income is "worked, sweated and stressed", what justification is there that this should be taxed differently to employment income. Don't people who work, are their income not "worked, sweated and stressed"?
When do changes in the October budget, like capital gains increase for example, come into effect?
The moral of the story is, never vote Labor.
So better vote for tori? They are a joke and destruction for economy
Increase Council taxes will just get passed on to renters.
People won't sell their homes they'll just remortgage.
I think a lot of these prospective plans are there to make the working class feel better in the middle of a cost of living crisis
do not pay council tax it is not illegal research it
@@chrisgregory9836how can I avoid it unless they send bailiffs to remove all the goods and sell it?
Labour simply don’t understand you tax the rich they take wealth , companies and jobs to another country
I vote 1 and 3 with the caveat that landlords shouldn't be allowed to pass the additional tax burden to tenants. Otherwise it is effectively just another tax on the least well off.
That is the first thing that will happen though. Unless the government legislated rent control, which labour have said they wouldn't do.
What makes you think landlord have this money? I have to work 2 1/2 jobs to pay my Morgages on the properties we have because they have doubled then trebled the interest rates, my tenants pay an extra £50 a month, so if one of the mortgages I have has increased payment by anther £270 they pay £50, I have to pay the £220 extra a month or sell the house and kick them out? Why do most people think land lords are either millionaires or make a fortune, I have worked 14 hour shifts 7 days a week for 38 yrs took huge risks and gambles to own approx 10 houses and I’ve never been as poor as I am know
@@johndineen7762 You probably won’t find too many willing to be sympathetic to the situation you’ve put yourself in.
Maybe it’s time to downsize the portfolio, cut the loss-making ones? Many are getting out of the private landlord biz altogether. Maybe flog the lot, stick the proceeds in a safe 5-7% vehicle and maybe even retire?
@@johndineen7762if you own 10 houses and are struggling then you are dumb 😂
I worked hard to buy my second property and live a frugal and financially sound life. I pay tax on my mortgage already ...whilst lazy people like you want handouts and others to pay for your life style.
If capital gains is changed will it be in October or April next year ?
Speculation. Why not do the responsible thing and just wait for the budget and stop spreading FUD (fear, uncertainty and doubt)? Just look at the comments below to see how people are jumping to conclusions based on zero actual data.
She’s an accountant. Financial planning is best when you plan ahead. Yes, we don’t know until the budget, but it’s wise to decide your plans for possible changes ahead of time so you can action those plans more quickly if the changes are implemented.
@@akastewartNot the same as just being negative.
@@zotriczaoh7098 Well, we can be pretty confident they won’t be lowering taxes. She’s an accountant with a YT channel. Tax changes that the government has mentioned might be considered for the upcoming budget, and the implications for different types of incomes, seems exactly like the sort of thing she should be talking about.
@@akastewart I don't have a downer on her. She has done far better videos like the one on how the wealthy avoid taxes. 😞
@@zotriczaoh7098 Fair enough. I just think that discourse around stated intentions are important and valuable, especially when it comes to future government policies. Governments increasingly publicise a range of policy options ahead of making a decision as a way of ‘testing the water’ and getting some informal public feedback on how popular/unpopular each option is likely to be.
It’s like ‘beta testing’ a policy without actually having to enact the policy first. A way of seeing what the public thinks without formally asking the public. 🙂
While they may not be checking the comments on this particular YT channel, it’s increasingly common to track ‘sentiment’ (‘sentiment tracking’) in online discussions using bots and AI.
The bit about reforming council taxes while probably required - perhaps they should focus on recovering the 4 billion unpaid council tax, rather than punishing the rest of us to make up the shortfall. Oddly that 4 billion is less than they will make from punishing pensioners who will probably go cold this winter, end up clogging our A&E's, and then clogging hospital beds for half the winter. using the NHS's heating instead of their own.
A very informative + helpful video.
Labour always crushes people's motivation for hard work.
The mansion tax in LA, California has led to increased homelessness + the creation of tent cities and an exodus of working age people moving to states with lower taxation rates. This is all Labour will achieve.
You think some of the people living on the streets are those who previously owned homes worth $5 million or more who couldn’t afford the ‘mansion tax’? 🤦♂️
@@akastewart Not just a mansion tax - but property tax (or their equivalent of our council tax) in general is very high making home ownership too costly for many younger professionals.
Approx. 80% of America's homeless people are found in Democrat-controlled, high-taxation rate states/cities.
Many Labour-run city councils in England also have some of the highest crime rates.
Increasing council taxes will lead to similar problems here in the UK.
@@AW12-W True enough, but you directly attributed some homelessness directly to the mansion tax, which is unrealistic as it applies to properties worth $5M and up. I suspect there are exactly zero people who ended up living on the streets because they couldn’t afford the mansion tax.
@@akastewart Mansion tax is just another example of high property taxation rates in California, which has more homeless than most elsewhere in the US.
It's why many young professionals are leaving the (not-so) Golden State.
@@AW12-W It doesn’t matter if the mansion tax is part of a larger programme of property tax. Your claim was that the LA mansion tax is a direct contributor to homelessness. So far you’ve skirted around it and moved the goalposts, rather than simply acknowledge that there is most likely not a single person that has ended up living on the streets because they couldn’t afford the mansion tax on their $5M+ property, and that therefore your original claim was nonsense.
I make over £80 k a year. Hopefully I’m in the working class 😏
Labour were elected by middle class people who earn big salaries workings for the state. Labour have to be careful not to bite the hand that feeds. Quality video by the way.
Wow! That's a lot of civil servants!!! 13.5 million people voted for Labour! Public records state that there are about half a million civil servants. I guess they hide 13 million under age prostitutes that MPs employ from official records or something?
@@MaitreyaNow Fwiw, they didn’t say ‘civil service’, they said work for the state. A little under 6 million people in the UK work in the public sector, though only a small fraction will be ‘middle class people earning big salaries’.
In the 2024 UK general election, the Labour Party received approximately 10.6 million votes. This was based on their 33.7% share of the total votes cast during the election
Or to put it another way, perhaps the turkey’s voted for Christmas!?
@@akastewart NHS doctors and support staff, teachers, police, army and their accountants plus others are NOT civil servants but will get nice pay rises and pensions. Labour must look after them.
The proposal to cap the contents of an ISA at £100k (or at all) is insane and probably unworkable (so possibly just a trial balloon with the slogan "at least they didn't" painted on the back). The only way it could be administered would be to breach the "wrapper" (invalidating the concept and destroying incentive) and require by law, presumably every April, the sale of assets in excess of the limit. Most people use ISAs as a form of flexible self managed savings/pension vehicle so the result will be to force sensible patient long term investors up the risk curve to compensate for the loss of tax exemption. If the objective is to force such people into complex risky investments likely to at least erode capital value such as covered call ETFs, then bravo.
Most middle class earners have been using ISAs for decades to the extent they've had the wherewithal for annual contributions. An awful lot of ordinary people will be above the proposed £100k limit so it would be a one time smash and grab as the excesses get flogged off at forced seller prices and the money sloshes around without a tax wetsuit.
But it's always the same. The middle is the fattest part of the pig.
Traditionally ISA’s have always had a slightly lower interest rate than say…bonds, due to the tax exemption within ISA interest accounts. Capping ISA’s at £100k for tax exemption would simply encourage people into bonds once the limit is breached, giving investors a similar net interest amount whilst also giving the tax man an extra slice of ££££’s.
@@Hurdy_guy I was referring to SSISAs. Cash ISAs have only ever been glorified commercial savings accounts.
@@Hurdy_guy I'm sorry but if you are purely using the isa for cash you using it entirely wrong. Personally I don't have a single penny in a cash ISA and instead i use the full allowance for my S&S ISA
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This sounds so good and I would like to be a party to this, is there any way I can speak with her?
Sure! She interacts on what’s Apk using the digit below 👇
+141
Why the fuck were they voted in. More taxes on us wtf 😬
How do you expect to repair something without money? You complain your house is broken but not willing to pay one-off for repair guy?
We are paying the price of keeping Tories in for 14 years.. Labour are getting on with the job..my respect in getting our country back in shape..
Great video as usual 👍 in your opinion if they increase CGT would it be introduced immediately or April next tax year ? Thanks
is it worth me getting up for work in the morning labour madness
Youve got nothing else going on in your life mate 😂
Probably not, but then you’re one of the decent hard working contributor to society, not some leach like creature that procreates and expects others to foot the bill🤦♂️
How about simply cancelling debt which is created ex nihilo?
I will be encouraging my children to leave this country and move to Russia, yes Russia
Belarus would be better 😊
You aint got any kids 😂
@@SK-kh2rs 🐑
Certainly, Moscow looks a clean, well ordered, ethnically homogenous haven. A much better place to live than londonistan.
Russia wants people to move there .
How much can you earn on the basic rate of Tax?
Good! Homes should not be used as a investment.
How dare they pay tax 😂 you should pay for it all
Hi Kiran - My husband falls under 40% income slab and I fall under Basic rate. If my husband transfer all the cryptos to me, will I pay 10% on CGT as of now ? Is it a right way to reduce taxes ?
Those with valuable homes and are no longer in work, will sell up and move abroad where life is cheaper, and the weather is warmer. We are going to see a tsunami of Billionaires and Millionaires leaving Britain. Then what?
Then those left behind will have to pay more taxes to fill the treasury coffers. Pray that the mass exodus of rich doesn't happen.
You should re-watch the video. The only asset wealthy people potentially affected are those that have single property/land they live on and low income. Begs the question why they don't downsize and free up some assets so they have more disposable income? Perhaps something related to the video by the same TH-camr called How the Rich Avoid Taxes (Buy Borrow Die). In some cases there is sentimental attachment involved for sure and older people might struggle to adapt to new living arrangements but the renter class are forced to move sometimes scores of times over their life time so I'm not sure why I should show the asset wealthy any more sympathy than the working and renter class get.
Millionaires and Billionaires are more tied to a country than other people due to the fact that you can't take most assets with you. The idea that they will pick up their Amazon warehouses and property portfolio and fly them out of the country is a myth that would be obvious if not for the fact it has been repeated and regurgitated constantly for many decades.
They already could do this but don't, the fact is even with tax their UK assets such as houses they rent out would still be good assets, some will sell their assets but not many and these assets will be bought by others in the uk
Rich and educated people have left and are leaving making it worse the government will lose the economic growth as more decent people will leave as will businesses
How about no additional taxes? We are already taxed into the floor