ACCOUNTANT EXPLAINS: How to Pay Less Tax

[@nischa]

➡ Get a free share worth up to £100 by using NISCHA at checkout or visit: nischa.me/trading212 👉🏽 My Intentional Spending Tracker (free) - nischa.me/intentionalspendingtracker

[@jagsfanrick]

Darn, country not supported(USA). What do you think of Stash?

[@guye94]

Show us your stocksportfolio Nischa in an upcoming vid. Already a long time Trading212 user.

[@mozaman9005]

Would be good to get a video to help increase confidence in investing...what approaches etc...

[@madhurisapfico]

Thank you Nischa for a very helpful video. Can you please also make a video about how you set up a Company to add KZbin earnings? Which category your company has been registered?

[@BattleofYT]

Thanks nischa

[@kooliecurlz93]

I think apart of what has been making your channel grow so rapidly lately is not only because of your wonderful content but also I’ve noticed that KZbin is lacking of European/ UK financial creators that know what they are talking about and make their content engaging at the same time. I am grateful because usually when searching on here it’s a lot of US based content which isn’t very helpful a lot of the time (personally)

[@mozaman9005]

Spot on couldn't have said it better!!

[@piman6211]

Correct, we need more switched on UK voices.

[@yvonnedollface]

agreee!!!!

[@itspatriciajuane]

Spot on!!!

[@mrexpress8002]

@@itspatriciajuane yes 100%

[@Ac3eeey]

You’re the hero we all need in this world. ❤️ Please talk about property tax and offshore accounts when you get the chance. 👏🏾

[@irisdanagher]

Think she needs to get Nadhim Zahawi as a guest speaker for that video. 🤔

[@dietitian.kelseythomas]

I agree! Would love to learn about offshore accounts

[@mpink8907]

I’d love to learn about offshore accounts too!

[@TheLadyteesha]

5:30 when you explain individual vs company, can’t you also claim items and expenses anyway because you’re registered as a sole trader? Because to be a company you have to have a lot more involvement in the tax process and fill more forms etc?

[@hasand74949]

Hi nischa can you explain more about borrowing from your pension for a mortgage? Thanks a lot

[@thetifosimsc5231]

Would love to see that video for energy efficient cars please Nischa. Great channel, great advice and now off to download 212.

[@Adam-de8yi]

Amazing video for beginners out there! Best finance-related content on KZbin, all the youngins are watching you and are inspired😊

[@browbarella7139]

Off-shore accounts? YES PLEASE!! Your videos are awesome!! Thank you lovely Nischa!

[@ksumar]

Great video tips. Sadly corporation tax will jump from 19% to 25% from April 2023!

[@tarahuwez8797]

Please do all the videos on offshore, property, stamp duty and energy efficient cars 🙏🏼🙏🏼🙏🏼

[@The_Finance_Guy]

Amazing video very well broken down and also covered the Stocks and Shares ISA very well too 🤓👍

[@jagjeetsandhu3407]

Please make a video on setting up a property company in the USA and please include details on the income from the property that would be required to immigrate to the USA to run the company.

[@ScorpionKazim]

'Investing for beginners series' is what I will anxiously wait for. Thanks for all your valuable advice dear.

[@chazoclock]

So glad I found this amazing Channel, I'm hooked

[@MrFlashmaniquin]

What about Trusts?

[@GeorgeMaier]

For small businesses, especially loss-making, it’s often better to structure it as self employment because you can offset losses against your PAYE income to get a tax refund.

[@marianalohinova3831]

Thank you for the great video, looking forward to more content on this subject 😊

[@theshylibraeatz]

could you make a video on how to file taxes and pay yourself, if all your income is cash based?

[@Powiux]

Your taxes video and one with 9 habits was so good information source. How to pay less taxes in my country ? My taxes legislations changes faster than weather. Can you give a hint about that ?

[@CB-jq7fe]

Thank you.👍

[@roselinededua]

Please make a dedicated video for self-employed tax payment! Thank you 💕

[@iamnickthegeek]

Excellent video. Just a small point to clarify for anyone in the UK, you don't need to be a legal "Company" (e.g. Limited) to deduct business expenses before paying tax, you can absolutely do this as a "Sole Trader."

[@renatatrencanska3942]

Thank you Nick for clarifying, I was just wondering exactly that.

[@unboxing4319]

Sole traders are liable for 40 and 45% tax rate. Employees of ltd aka director can set up 1257L and dividends, bringing down rates to anything from 8 to 39.35%

[@susieherbert-light7133]

@@unboxing4319do you have to pay 25% corporation tax before paying dividends?

[@rlc2978]

But it FAR more limited

[@unboxing4319]

@@rlc2978 pun intended?

[@rambo8084]

Putting aside the whole content aspect of this video, your delivery of content is absolutely to perfection. Clear, straightforward and precise. The professionalism, politeness and with clear vocals, without any emotional bias towards your content is incredible. I believe these factors is what keeps viewers engaged in your videos through till the end. Keep up this method and your channel will grow rapidly for sure.

[@mikegregory8353]

I’m hooked. Advice as to what you do when your ‘side hustle’ Ltd company business account starts accumulating money and it’s just sat there and growing when you’ve taken your tax free dividend. .

[@TTO2023]

Totally agree very easy to follow but need more advice on how to save tax and investments like stocks I find are just abousivei invested in couple of companies and they sold there shares and I lost money in all of them and I was forced to sell

[@nischa]

This is so kind, thank you!

[@ceeh5610]

Totally Agree, there should be a Television or Film contract for someone as talented as yourself.

[@brentjackson4151]

This is what we are taught to do as accountants

[@Dumbled0resArmy]

Hi Nischa, Can you make a video around setting up a company and the benefits and drawbacks of each company structure (LTD, LLP, ect)

[@sb-fc6uj]

Yes I agree, I am currently self employed and I seem to remember another option was LTD company but as I don't earn very much as its part time work I chose self employed. Is that what you meant when you referred to 'individual' and 'company' in this video? I am in the UK

[@JasonR184]

I wanted to watch the full video before commenting and I am seriously blown away. I recently paid for a course to learn this and this single video is so much better than that entire course! Nischa, very well done and thank you so much.

[@nischa]

so so glad to read this, thank you

[@knowledgeseeker5499]

Totally agree and she is giving good advice to helping others. We should all have learned this lesson from schools

[@brettm6016]

you paid for a course to learn basic tax information you can find on google? huh?

[@Jackrobert28]

@@nischa Is an umbrella corporation a good thing to use as a consultant ? I am doing a CFA 1 test trying to get into Finance in the UK, would it help me get my foot into the back office ? Thanks.

[@mattheww6167]

Excellent video so much information explained clearly, many thanks. In the future I'm going to be selling a property that I currently let out which did cover the mortgage sadly it doesn't and I had to extend the term which wasn't ideal. Any videos on capital gains tax would be greatly appreciated. Many thanks

[@connormcleod9595]

You can pay upto £40k in pension to reduce taxable pay. Also cycle to work scheme. Easy. 40% tax?? What 40% tax 😂🤣😂

[@sitapatel573]

Great informative video! Would love a Video on UK pension relief - and a breakdown of how the 20% / 40% / 45% income tax brackets impact tax relief please

[@keithlacey]

Off shore account video please :)

[@lupitahaussmann]

You speak so eloquently and have quickly become a finance role model. I'm looking forward to learning more! THANKS!

[@elviraeiduka2955]

The quality of your content is amazing, thank you for this useful information! ❤ Could you dive deeper into taxes for small business owners: what can generally be written off as expenses, what to look out for in a tax advisor, when to start looking for an accountant (at what stage of the business) and maybe the average charge rate of tax advisors and long term accountants. Keep up the good work, Nischa ✨

[@lisannewinter6122]

Hi Nischa! Thank you for this video, it has been very helpful. I would love to see a video on 1) how to set up your company structure to save on tax & what is the best way to pay yourself through that structure 2) how to find a financial advisor, what to look out for and what the typical costs are. Again, love your video's. 😇

[@tzc9309]

@@The_MoneyGuru pretty sure there are more tax benefits to setting up a limited company if done correctly though so do your research before making a decision - the money guru you sound like you work for hmrc rather than giving out good advice 😂

[@tzc9309]

@@The_MoneyGuru Im sure you know 😂

[@ocruzandroid]

I love your channel, but I just wished you spoke slower.

[@josephjoestar995]

I’m pretty familiar with the whole ltd and expenses method, but 100% of my income is through PAYE. I earn just shy of 6 figures as a data engineer but I get taxed like a donkey, what are my options if my income is taxed before it even reaches my bank account? Will visiting a tax accountant be of any use? Thanks!

[@KevinTalbotTV]

great overview. Taxes in this country are getting bad, thinking of moving to the isle of man, could you do a video on that? How to set up the new company, how long you have to stay there to get the tax benefit etc.

[@FaizanShaikh-pp1kg]

Which country?

[@benz.]

@@FaizanShaikh-pp1kg I'd confidently assume he is referring to the UK 🇬🇧

[@pokethebear242]

isle man dead, but yh moving if healthy good

[@Rapha187]

Why do Americans always think they can just move to another country? You can’t! You need a visa (thru spouse or high end investments). Emigration is a long and hard process.

[@benz.]

@@Rapha187 Well... he's not American. The Isle of Man and the UK have good reciprocal agreements regarding living, visiting and working in the respective jurisdictions. It's much easier than moving from the UK to elsewhere, so I don't see the issue.

[@0romo1x]

why am i watching this as a 18 year old

[@channaw.3538]

Consider yourself being extremely lucky to have seen this video at 18 vs 58. Always invest a bit of your money now In an index fund such as the United States S&P 500 index.

[@alphadanger2223]

6:30 I think you should clarify that for S&S ISA accounts you can pull out your money at anytime and any profits are tax free also, not just when you retire incase people are confused versus a pension

[@nischa]

^correct, thanks for adding it here

[@08132790]

Not all heroes wear capes, please tell us about how we can set up offshore accounts and get away from being taxed to death

[@Thejohnmullen]

I’d loved to learn about the offshore accounts.

[@filmwork1]

This explanation is way more easier to understand than the ones i've had with my accountant for 14 years. (Love the new graphics btw).

[@gmcd1982]

Be mindful that there is a waiting list to join Trading 212

[@juniorolajide213]

Videos about offshore accounts and energy efficient cars will be great!! Loving the content so far, especially the fact that you're UK based.

[@Gemstonetarot]

As a UK Ltd company director is it still a good idea to take money out of the business account and put it into savings account? I want to build up an emergency savings fund but I realise that as soon as I take it out of the business account it attracts 8.5% dividend tax.

[@bitobest8319]

Off shore accounts video please!

[@guygreen2082]

Yes please here too.

[@eelm2079]

but you just get taxed when you go to take your pension out anyway why does no-one ever mention this... (obviously company contributions are best)

[@Maya-ln1os]

Yes...please make a video about how everyday working people can set up off shore accounts.

[@jshott726]

Thank you for such informative, clear and accessible content Nisha! Id love to hear more about tax efficient ways of buying energy efficient cars. Thank you

[@Only-wn9dm]

Interested to know if buying BTL properties through limited company or personally

[@laurenherbert7652]

Nischa I’ve been so inspired and motivated by your content. I discovered your channel in the last month and there’s already been a marked improvement with my finances/attitude towards my spending/earning already. You’re a fantastic teacher. Keep up the great work! Xx

[@vickipedia3253]

I agree

[@parismozzy5388]

Yes totally agree 😃Nischa is fantastic! So happy we’ve found her x

[@nischa]

So happy to read this, thank you Lauren! Xx

[@Teamshmo]

Please do the off shore and all the other crazier tax saving tricks

[@jf1341]

Probably the best 8 min 41 secs I've spent on KZbin. Thank you! 🙏

[@latinaforever4892]

Trump a billionaire, paid nothing 🤦🏻‍♀️👹

[@solmontano6689]

Would love to hear about setting up offshore accounts/ companies in tax havens. And ways they can be used to minimise earned income in the UK and Canada. Cheers! 🙂🙂

[@andrewb2475]

:o Wow you're So beautiful!

[@vanessakellow2957]

Hi Nischa, would you do some consultancy for me? Can you send a link to your newsletter so I can contact you? Sorry I did try with a link you sent before but couldn’t get it to work . Highly impressive videos. Well done!

[@Monday_media]

Nischa, you've done it again. This is dope. You lil life saver. Make this a series 👌🏾🙌🏾

[@jimmyzheng3377]

GREAT, can you do a video about energy saving cars on tax free savings on these cars as mentioned on this video please?

[@Anabella122]

Hi Nischa, I have recently come across your channel and I just want to say what great job you are doing. I love your style and your way of explaining financial concepts which is so easy to understand. And it's great that you are also in the U.K, as I am, as your information feels much more relevant. So glad I found your channel and thank you for the invaluable financial education :)

[@nischa]

Thank you so much Anabella

[@vanessakellow2957]

Yes please go off shore accounts and electric cars! Thank you again!

[@margueritestrydom5807]

This is amazing. I love your practical advice and the fact that you are showing people in Europe/ the UK what they can do. Please cover more Tax content and I would LOVE to see videos on offshore accounts and how to set up a company online as you mentioned in the video. Thank you for all your videos!

[@fadifadi174]

Good video! Looking forward to part 2. Also your views on thr property market given the higher rates will be really appreciated

[@Noallegiance]

Work less. Millions of scroungers have been doing it for years.

[@chrissyr6388]

Nischa! That was so helpful! In California our taxes are so dang high, I’m looking to find avenues to keep more money in my pocket🤭 Would you be able to break down what you can wright off for small businesses? Even perhaps you tube side business?

[@alicegiles4711]

Please can you do a video on offshore accounts 🙏

[@SaintOrCinema]

More of your amazing wisdom in tax please! 🤩 especially legal and ethical offshore accounts X

[@ahmadhakim7812]

Putting money in 401K is not totally tax free. When you retire, you still have to now pay taxes on the withdrawal amount.

[@Alexedmartin.]

Reducing your tax liability is a smart financial move. It's all about strategic investments and leveraging tax-saving opportunities. I've seen significant benefits by diversifying my portfolio and taking advantage of tax-efficient investment vehicles. It's not about avoiding taxes, but rather optimizing them to maximize your wealth. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made

[@Alexedmartin.]

I invest across the top markets but not by myself though. i follow the guidelines of Regina Louise Collaro . you might have heard of her.. I can correctly say she's worth her salt as an investment adviser as her diversification skills are top notch, I say this because i see that in her results as my portfolio grows by averages of 5 to 1O% on a monthly basis, unlike i can say for my other inve stm ents which has just been trudging along. my portfolio just mirrors what she place and not just on some particular industries of my choosing. I was able to retire early and gain financial freedom through her help.

[@Alexedmartin.]

Regina Louise Collaro is based in the United States and can work with anybody wherever they stay. If you would like more information on reaching her, you can conduct a search online.

[@ugojazzy7812]

personally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does.

[@emeldcentor1474]

​@@ugojazzy7812I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me.

[@zoeb.6067]

I’m a little confused on how you explained the first tip with how our income is taxed. If I make 11,000 would I pay 20% tax on subtract this from the bracket amount?

[@patc2515]

Really excellent content. I look forward to seeing more of your videos about the various things you mentioned at the end. All of it, lol.. Really well done, nicely spoken, thoroughly presented, super informative. Thank you for sharing this information! You've definitely earned my subscription! I'm sure this channel will hit the million subs club very quickly!

[@pawelkaczorowski8524]

great video! could you go over the points you mentioned at the end of the video?

[@electricbelletrist6810]

Would definitely love to see a video on savings for energy efficient cars please. Such a comprehensive & approachable introduction to tax- thank you!

[@absolutebensmith]

I've always found it astonishing that people don't realise that 40% tax only applies over a certain amount

[@davegenders2490]

A video on setting up an offshore (tax free) account would be very useful and very interesting, Nischa.

[@beingmom_andbeyond7745]

Thank you for this amazing information !!

[@alexandraparri]

Thanks for a great video, Nischa! Can you please make a video about the tax benefits of setting up a trust and what kind of income/assets you can add in the trust? Also more content around properties would be a plus! Thank you :)

[@rutacerniauskaite9550]

offshore company set up video please

[@ironore8853]

You’re Subs growth is super impressive. I think what people like is your honesty, transparency and helpful content. Too many on YT are trying too hard.

[@mooremoneymakin]

Great overview of the basics, looking forward to part 2!

[@insufficientfunds5603]

Tax brackets need to be updated. When the working class can't afford to live in my case, how much I pay in taxes, it's damaging. We give government too much power of the money we are giving them and they only keep asking in more.

[@potatochipping4761]

Thank you for sharing your knowledge- it's invaluable! As a single mum, I've always been afraid to invest but didn't know where to start mainly because of the financial jargon. Thank you for making the information not sound like a complete mystery- it's so freeing to finally know there are ways to keep more of my hard earned money!

[@phiakate]

How do you borrow from your pension to buy a house and who is exempt?

[@ihaziqhabib]

Amazing video Nischa, would love to know about your career journey 😊

[@RajSingh-tn5oy]

Hiya love the videos. Pls make a video with pros and cons of off shore acct and energy efficient cars. Keep up the good work

[@kima6474]

No frickin way! Nischa, are you really at 225k subs already? HUGE Congrats 🥳 ; it’s well deserved. Okay, lemme dive into this video now. Thank you for all the great info you share. I always learn something from your videos, it’s not always the same regurgitated stuff everyone talks about. Even if it’s not something new, you always manage to put your own spin to it. I appreciate you❤️

[@nischa]

I appreciate you and comments like this!!

[@nickd1638]

Don't know if you already have done a video mentioning this, but, what can be offset when you purchase a buy-to-let property via a ltd company?

[@Jaymy580]

Having worked for a UK pension provider it is scary how many people don't know some of the basic things to do to better themselves. I am no expert and would love to know more. The offshore accounts, property tax and energy efficient car savings would be great to know more about.

[@jacquelineblackmore-allen1576]

I love your channel Nischa! So succint, relevant, and easy to understand. I've only been watching for a couple of weeks but I am really inspired! Forgive me if you have already covered these, but I would love to see videos on the following: - What to prioritise with respect to savings, investments, etc, when starting at an older age (e.g., 40+), would the priority list be different to when someone is, say, 25-30? Is there anything that should be avoided or prioritised? - Investing pre-IPO (e.g., crowdfunding for start-ups) vs buying shares in public entities. Thanks in advance and keep up the good work!

[@1967dragonaxe]

Would you create a video explaining Ltd Co salary v dividends and how to utilise them to minimise tax liability? Thanks

[@ms_tangarello]

Hi Nischa, recent subscriber and am starting a habit of watching your videos once per week. Your videos are always top notch and feels amazing to keep learning more ways to financial freedom :)

[@shares-qg9kw]

Outstanding delivery Nischa ! 77 requests for this "offshore account" But no video . Did you make that bit up ? 🤣😆🤣

[@Sandy83]

I know nothing about finance but happy to learn that I am already doing a few good things like salary sacrifice (although i just got laid off last week) & filling my ISA/LISA. This is really great content, super happy to have found your channel!

[@UK7868]

Hi Nischa Subscribe to your channel recently, top content. Can you please do a video to compare limited company Vs trust fund? Plus how do one open a trust fund, there's limited information available, any recommendations on whom you would recommend please? Thanks

[@ThaiLemongrass2020]

You are so very good at this. I am a Thai who is loving and living in the UK. I have just understood the UK tax ladder from your video. You have a new fan now. I hope I watch more of your useful videos xx

[@marciacosta3252]

What you suggested me to do when I have so much debt?

[@marquise5265]

Niiiiissschaaaa! Thank you so much for this! I'm about to quit my job and "fly solo" professionally and tax-wise, so I need to learn as much as I can about registering as sole trader or maybe setting up a company. Doing it in the Uk or maybe somewhere abroad where the tax rate is lower (Bulgaria 10%). I've contacted a few people on Fiverr, but their advice was incredibly basic and not very helpful. Could you go more in depth with this topic or maybe recommend someone? 🙏🙏

[@NTG2396]

Could you make a video on how you can save money on tax as a landlord

[@shadowr6348]

Just found your channel. As a Uk expat in the US, I realized when I came out here how financially illiterate we are in the Uk, we tend to give up our autonomy and expect our companies, HMRC and the Govt to make decisions for us, whereas here in the us, you are on your own. It is nice to hear a Brit KZbinr offering education, so thank you.

[@reev1161]

Is there a time when you can no longer deposit to your IRA without a penalty?

[@reev1161]

Hi, You provide some good financial information and it's great to hear and see your show.

[@loupaws5153]

I'd love to hear about offshore accounts. The tax hikes coming in the UK are ridiculous and unfair.

[@margosulek]

I didn't know you could take money from your pension go buy property, I can't find any info about that online, would love if u made a video about it 💗💗

[@shiran0211]

Hi Nischa, thank you so much for another great video. Do you think you could make a video is Ltd company vs self employment (tax implication, other differences, pros and cons for certain scenarios?) I would like to understand the benefits and implications on each in more detail for someone who wants to start their side business. Thank you!!!