Are we saying that the employee is going to opt out of the company pension? Then the company puts the full amount ie your 5% plus their % into your pension scheme. Are we needing to set up a private pension scheme to do this instead of the usual company Nest style pension. And then its ok for a salary sacrifice to be paid into the private pension? Is tgat how it works, sounds complicated for the company.

Would another disadvantage be for those in DB/Final Salary/Career Average pension schemes where a salary sacrifice would harm the final pension to be received?

Well explained !

If these pots are surplus to income need, then you can draw a regular income and gift to family. Gifts out of excess income if made frequently and don't impact lifestyle are immediately out of your estate for IHT.

Great video especially about making sure don’t have a pension that transfers, rather than pays out on death is really important, but let’s look at at double taxation as it’s not so simple. Assuming 40% tax, but you could apply the same to 45%. Let’s look at £500k pension. If I put £300k into my pension it would be worth £500k with tax relief, or I could buy £300k ISA. Assuming no growth, but in reality the pension would grow more as there is more money in it. After IHT the ISA will leave £180k and the pension will leave £300k. If the pension is drawn down at a 40% marginal tax rate the total is the same, both leave £180k

feels like summer, thanks Simon, your my CPD.

The UK is fuxxed under the new government. Best get out now.

Small Self Administered Schemes are the way to go IMO as you can put offspring in as beneficiaries.

Move to A J BELL its easy and sensible .

This government is a gang of thieves.

Does this include state pension or just private pensions?

I am a UK citizen with a property in UK that i have on airbnb managed by a local UK agent. Profit is only 4000 pounds a year and turnover is around 18000 a year. i have filed self assessments and pay no UK tax as i live and pay tax in USA on profits. What I dont understand is if i need to be VAT registered. The business is well.inder 85k VAT treshold and day to day management is by UK agent. The only thing i do is receive payments from airbnb and then pay my manager her fees for management and cleaning the property and any other bills like gas, elec, water,.insurance, wifi, tv license etc. The profit is miniscule , if inwere to have to pay VAT on the total rental income i would be making a loss. Is anyone else in this boat and have any guidance

Thanks for the video, could you do one on inherited stocks and shares ISA's

Thanks for this explanation. I’m an employee who intends to claim the mileage pay differences from HMRC. It’s interesting to know that I may only get £200 worth of tax free deduction. Please what evidence do I need to prove establish my mileage done. Will a mere call or filled p85 form suffice Thank you once again

Best explanation on this topic. Cheers Simon! Would be curious to see your breakdown on milage on electric cars if owned personally or if the EV is owned through the business.

Crystal clear ! ….Also works with SASS ?

is that based on just and only income? what about a good year on capital gains for investments? thanks

In case I got US dividend above the basic rate band . For the amount in basic rate I do not have to pay more to HMRC as 15% I paid to US Tax Office but the amount which is in higher rate band oblige me to pay difference 33.75% - 8.75% . Or can I use whole amount of tax paid to US authorities and see if I own something to HMRC.

I believe you can also claim married tax allowance while abroad.

Sounds like 6 April 2025 onwards will be a vastly different landscape for non doms with these benefits being abolished? Instead, some may benefit from FIG (Foreign Income & Gains) relief if they haven't been resident in the UK for long (essentially a way to transfer foreign income post 2025 without paying additional tax in the UK), or a way to remit previous foreign income pre April 2025 for a lower rate tax (TRF/Temporary Repatriation Facility). This is what I believe will be the case, and for my situation this would make it wise to defer remitting any foreign income to the UK (which would be high rate tax due to my UK employment) until post April 2025 when it would fall under a lower tax rate. Simon, I would love to see a video to help me understand the intricacies of these upcoming changes! Seems like you have a knack at explaining this stuff! EDIT - Just realised you already have! kzbin.info/www/bejne/o6GxpoWaaKeio80

Hi Simon. I've just stumbled on this video. For some reason my accountant is reluctant to transfer the few properties that I have in my name, to a Ltd Co. Is the first example of property transfer to a Ltd Co structure still a valid way to incorporate in Q4 2024?

Its just deferring any tax liabilities to the future, possibly at higher tax rates when you extract the money from the top company. If you are higher rate taxpayer and you want to extract money from the top company then probably dividends would be the cheapest option but that would be at 33.75% which is higher than the 21% rate you showed on your video for a sale after April 2026.

Hi Simon - Great overview. Just regarding pensions, you mentioned this will now form part of your estate for IHT. What if you have a SIPP or a SSAS? Are you still subject to IHT? Is there any way of getting around this? Thanks Irfan

Personally I'd just abolish it and raise CGT rates to income tax rates. I don't think it works to encourage people to start businesses. It's an inefficient big dollop to business people that want to retire. I think it would be better to raise the revenue and if you want to encourage businesses to set up a BIG tax free side hustle personal allowance for people in PAYE employment but do their own project on the side. £10/15/20k. That would benefit people who want to set up businesses now rather than in 20 years time.

Can I check. At 12:30 you said about the additional stamp duty “not your main home, just on additional homes”. Is that right? I own a buy to let, and then bought a home for myself to live in (my main home) and I paid the 3%. Was I wrong to do that?

❤ Nice video ❤ Did your shirt match the white board or did the white board match your shirt 😂😂😂😂😂😂 Keep the fabulous work up 👍👍👍👍🥂🍾🥳

Hi Simon, does BADR only apply to assets or cash on hand in a company bank account?

Thanks for the video, on the ISA point they scrapped the british isa, which is good because it was more confusing and restrictive

They will be back for more and more until you run out of money or they get thrown out of power, whichever happens first.

I am a Uk citizen born and bred, as was my father. I have a home in the Uk, but return for less than 60 days per year. I work in Eastern Europe. Will I pay tax in the Uk as of April 2025? Thank you. Good info and video! 👍🏻

Hello Simon. I've watched your article on VAT charging when shipping from the UK to the EU. Have you heard of LUCAS, the recycling scheme set up in Germany and have you covered it in an article on your site. As a beginner business wanting to potentially ship a few kilograms of goods to Germany it seems quite a burden to have to register and moniter this system on a yearly basis not to mention the cost of just having it set up irregardless of wether or not you make a sale in Germany.

Thanks for this video. Very helpful

Can confirm there’s been errors before. Because I started working a high paying remote job in final year of uni - I erroneously had employers student loan payments filed when my repayment period hadn’t started yet. Got the amount back similar to tax refund

Something that I have wondered...if an employee earnings gross £40,000 but this employee pays £40,000 into the employer pension scheme via payroll, is any student loan repaid,l? Are earnings nil here? Same situation, but the employee pays into a SIPP with their own money. PAYE would have made student loan repayment deductions through payroll. Does this then reduce how much the employee can contribute to their SIPP?

My first thought "oh no more bad news😂"

God help us

Word salad

I dont understand why KZbinrs are wasting their time posting these post 🤦🏽‍♂️🤦‍♂️😱😱 It's all speculation 🤐🤐🤐🤐🤐 Why not wait till after the budget? Fact is always better than speculation, which is a Fact 👍👍👍👍

Excellent work Mr Gray!

Nobody in the finance community should be playing along with this gaslighting language from the politicians that “tax relief is a cost to the government”. No. The money is owned by the entrepreneur, and any tax is a cost to them - which the government needs to justify, and needs to spend well. The government isn’t doing us a favour, we’re doing it a favour. Without our enterprise, they wouldn’t be able to operate. A lower tax is just less theft, it’s not “a cost to the government”!!

First one that’s made sense

You are a legent Simon, cheers again! You go a level deeper than other channels. The examples make it crystal clear as well.

Hi just found your video, iv owned and lived in my home for 22 years thinking of renting out while living aboard if i was to come back and live in it for a year will i pay cgt

Hi Simon Just paid CGT on a rental property that has recently sold (Sept 2025). The property stood still since Sept 2023 and self assessment has been filled for 2023-2024. Confusion lies now around if another self assessment needs to be completed now that the property has sold for 2024-2025 or last years amended as on the capital gains acknowledgment it says 'You’ll need to provide details from this return in your Self Assessment tax return'. On the SA return for 2023-2024 I did tick that the property was no longer being rented? Really confusing, HMRC don't make anything easy.

How do we make Class 2 Voluntary Payments? We make class 2 payments each year when prompted via self assessment tax calculation but its small amounts as we only earn approx £8k per year, Cant see any other option to pay more voluntarily? Thanks

Robel Locks

really good expalantion.

I think perhaps we should ask whether cakes deserve to be zero rated.

genuine question struggling to find answer. Im producing my own products, materials and tools have cost circa 10k. 1st year i dont sell my product and technically im at loss of £10k plus labour making the product, then my products goes on the market for 1 year ive clawed back 8k on sales and repayed 3k of the loan, ive got 5k left over from sales but net profit would still be minus 2k for the year as I have 7k loan left to pay .. would i have to pay tax on the 5k minus other expenses left over that year? as i would still need to use the 5k for materials etc... thanks in advance.

Excellently explained