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@KF-z9f
@KF-z9f 14 күн бұрын
Hi, thank you for making the video and all of the others, very informative! I was wondering if you could please explain how to calculate section 9 on a P60 please... 'Earnings at the Lower Earnings Limit (LEL) (where earnings are equal to or exceeding the LEL)', 'Earnings above the LEL, up to and including the Primary Threshold PT', 'Earnings above the PT, up to and including the Upper Earnings Limit' and 'Employee's contribution due on all earnings above the PT' - Many thanks!
@jafferkhan1452
@jafferkhan1452 18 күн бұрын
Can you made video of same for year 2024/2025
@teganl5667
@teganl5667 Ай бұрын
If a sole trader was to make a loss how would this be recorded onto income tax?
@teganl5667
@teganl5667 Ай бұрын
You made this so easy to understand! THANK YOU
@Music_Soul_Arjun
@Music_Soul_Arjun Ай бұрын
So helpful
@pradeepchawla6643
@pradeepchawla6643 2 ай бұрын
Many Thanks ❤
@jackflash8756
@jackflash8756 2 ай бұрын
One thing you didn't mention was the 'savings starting rate' £5k at 0%.
@shortybabe9778
@shortybabe9778 4 ай бұрын
Brilliant
@divvy1400yam600
@divvy1400yam600 6 ай бұрын
For a very OAP , this can be awkward and not easy to hold in my ancient mind. I also found the questions on the HMRC request can be ambiguous. Doing it myself I ended up owing £6000. Seeing if I could reduce the amount I got in a hell of a mess. An advisor took pity on me and on 27th June 2024 I ended up having to pay £8000 I had misunderstood the question re private pension amounts.
@krishagarwal1844
@krishagarwal1844 7 ай бұрын
Hey Farnu, loved the video, I was wondering if you can make one on how employers calculate PAYE to deduct it. from an employee's salary as well. THank you!
@stephenogola2155
@stephenogola2155 9 ай бұрын
Can you prepare a statement of income tax taxable income
@Aub9
@Aub9 10 ай бұрын
Was stressing about it. This made sense. "And Breath" !!
@tatianabezsmilina7913
@tatianabezsmilina7913 10 ай бұрын
👍🏻👍🏻👍🏻
@tatianabezsmilina7913
@tatianabezsmilina7913 10 ай бұрын
☝️👍🏻
@Thehellzbellz1
@Thehellzbellz1 10 ай бұрын
Would someone be able to comment the updated allowances/tax band figures for 2024? I keep getting confused as to which ones have changed🙏
@georginajovanovic
@georginajovanovic Жыл бұрын
Is National Insurance Contributions automatically paid if claiming Universal Credit and what about during Covid?
@PrescilliaKejima
@PrescilliaKejima Жыл бұрын
very detailed, thank you
@WoWoW-1
@WoWoW-1 Жыл бұрын
for the last question why are you adding the 35% if he earned less than 40000
@jitendragupta2879
@jitendragupta2879 Жыл бұрын
very nicely explained NIC calc
@vasilicalcanteras6247
@vasilicalcanteras6247 Жыл бұрын
What about Capital Gains Tax. How do you handle that as well as the rest of the income options you presented?
@ahmedalsharman
@ahmedalsharman Жыл бұрын
great work 10/10
@ASH-ky8pm
@ASH-ky8pm Жыл бұрын
this was amazing thank you soo much
@dalskiBo
@dalskiBo Жыл бұрын
Nicely explained, thank you.
@deeso7658
@deeso7658 Жыл бұрын
@11:03 - Dividend Income 3000 (refer to @GBP2000 @0 % Tax) If Dividend income GBP3000, Balance 1000 should pay Tax (Is it paid 7.5% Tax of Dividend Tax for remaining GBP1000?)
@adannauba653
@adannauba653 Жыл бұрын
Beautifully explained. Is this income tax calculated in the balance after removing your Pensions and National insurance ?
@nikhilnijjer5
@nikhilnijjer5 Жыл бұрын
beautifully explained. Made the concept super easy❤❤
@martaisate580
@martaisate580 Жыл бұрын
Absolutely amazing, thank you very much for explanation!!!
@libbyfodor6297
@libbyfodor6297 Жыл бұрын
Great explanation. O gosh, you've made my brain working again. I am trying to learn a CEMAP book for test and the way they put taxation made by brain boiled. The UK taxation system is complicated enough. Thanks a million 👌🙏
@evelynfrempong5578
@evelynfrempong5578 Жыл бұрын
I can't thank you enough Very helpful and precise
@fatimaalbraiki3065
@fatimaalbraiki3065 Жыл бұрын
I can't thank you enough! simple yet precise!
@ChloeMcNaught
@ChloeMcNaught Жыл бұрын
Thank you so much for your videos they are so clear. Would you be able to do a video on income tax including taxable benefits (like contributory ESA) that would be so helpful knowing which column that fitted into! Warm wishes
@paveljelihovschi6757
@paveljelihovschi6757 Жыл бұрын
Thank You 👍
@DHILLONJ8
@DHILLONJ8 2 жыл бұрын
Thank you so much
@DHILLONJ8
@DHILLONJ8 2 жыл бұрын
Thank you so much
@adamwilliams5372
@adamwilliams5372 2 жыл бұрын
Thanks for taking the time to make and share this. Really helpful. Thanks
@adamwilliams5372
@adamwilliams5372 2 жыл бұрын
I'd just learnt this before watching this video but this gave the perfect visual for me to realise I actually understand it so I'm grateful thank you for sharing this
@matthewgreig3772
@matthewgreig3772 2 жыл бұрын
Is the income Before or after Tax is taken off??
@fayeyaz2086
@fayeyaz2086 2 жыл бұрын
Thank you so much my lecturer is useless
@beetleything1864
@beetleything1864 2 жыл бұрын
If u r making 81k you ain't watching utoob vids for sure......
@Aub9
@Aub9 10 ай бұрын
Some watch way too much youtube instead of getting things done. Professional KZbinrs though can make stacks by watching tips in other youtubers content.
@karfng1400
@karfng1400 2 жыл бұрын
Thanks. Its useful and finally how the calculation is. =]
@KM-zd9ui
@KM-zd9ui 2 жыл бұрын
Hi , thanks for making this video. Easy to understand and love the way you present. I have moved to UK recently and have been watching a lot of videos about UK Tax & NI explanation but none of them like you easy to understand. I am not sure why you seem stop making any video. I am looking forward to watch your video in near future :)
@farnufinance8542
@farnufinance8542 2 жыл бұрын
Thank you very much for your comment and such nice words, it really means a lot! I am aiming to make many more video in the future, watch this space. Thank you and glad it has helped :)
@davidthomas6043
@davidthomas6043 2 жыл бұрын
quite interesting, BUT why no mention of Interest allowances. Some interest is tax-free.
@farnufinance8542
@farnufinance8542 2 жыл бұрын
This was just a brief example. I have mentioned the interest allowances in my previous video to this one with other theory also. Please see: kzbin.info/www/bejne/eqqVoZyHfa9jntE thanks for you comment! :)
@Uzomadeen
@Uzomadeen 2 жыл бұрын
Hello, how did you get to profit? assuming we have 38,249.00 how much will this be with 4 NCS ?
@Headie0ne
@Headie0ne 2 жыл бұрын
Thank u farhan
@macherie300
@macherie300 2 жыл бұрын
All I can see is your arm!
@nathankaye1577
@nathankaye1577 2 жыл бұрын
Who's earning £6,750 p/m?
@Yodabookeeping
@Yodabookeeping 2 жыл бұрын
What a fantastic video, thank you.
@paulsharma4807
@paulsharma4807 2 жыл бұрын
Nice as an international student this is very helpful 👍🏼
@miss00786
@miss00786 2 жыл бұрын
Thank you the cii R03 book is crap this really helped
@funniemsf6102
@funniemsf6102 2 жыл бұрын
Great video!!! Thanks 🙏🏻! I know the class 2 is contributing to the state pension in the end, what about class 4? Is it contributing to anything? Will it benefit me in any form in future?