How To Calculate UK Income Tax - Made Easy With Worked Example! (step by step)
In this video I show you how to use the theory and basic example discussed and explained in my first video ( • How To Calculate My UK... ).
This example covers income from different sources such as Employment Income, Property Income, Dividends and Savings income to show you how it all fits into the Income Tax pro-forma. I discuss the personal allowances and how to efficiently use them in order to minimise your tax bills!
Пікірлер: 27
Nice as an international student this is very helpful 👍🏼
I can't thank you enough! simple yet precise!
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
So well explained thank you!
Great explanation. Thanks a lot!!
Thank you this is really useful!
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 👌🙏
Great video! Really well explained
I can't thank you enough Very helpful and precise
Absolutely amazing, thank you very much for explanation!!!
Nicely explained, thank you.
Good job sir very helpfull
Good one ❤️
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.
Thank you so much
“If your blind put it here” that made me laugh. That aside thank you! This really helped me before my exam ❤️
On your example of income of 62000 can you show how capital gains tax of 15000 is worked outt
amazing! doing good work
@farnufinance8542
2 жыл бұрын
Thank you very much! Hope it helps :)
for the last question why are you adding the 35% if he earned less than 40000
What about Capital Gains Tax. How do you handle that as well as the rest of the income options you presented?
Can you prepare a statement of income tax taxable income
Would someone be able to comment the updated allowances/tax band figures for 2024? I keep getting confused as to which ones have changed🙏
@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?）
quite interesting, BUT why no mention of Interest allowances. Some interest is tax-free.
@farnufinance8542
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: kzread.info/dash/bejne/dq1m0suKeK2WmNI.html thanks for you comment! :)
All I can see is your arm!