Welcome to Farnu Finance.
My aim is to help you to understand a range of financial topics such as tax, valuations, accounting, finance and a range of other financial topics so you can make calculated and informed decisions in your personal and business finances.
I hope to assist in providing everyone with a platform to have an understanding in a range of financial matters to enable you to make the best financial decisions in the most simple and efficient manner.
Disclaimer: The advice and information provided in these videos is based on current tax legislation and practise. Tax legislation and practise may be subject to change from time to time. Farnu Finance shall have no responsibility in relation to the impact that future changes in tax legislation and practise may have on the appropriateness of the information provided. Where investment advice and information has been provided, the ultimate investment decision lies solely with the investor.
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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.
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!
Can you prepare a statement of income tax taxable income
Was stressing about it. This made sense. "And Breath" !!
👍🏻👍🏻👍🏻
☝️👍🏻
Would someone be able to comment the updated allowances/tax band figures for 2024? I keep getting confused as to which ones have changed🙏
Is National Insurance Contributions automatically paid if claiming Universal Credit and what about during Covid?
very detailed, thank you
for the last question why are you adding the 35% if he earned less than 40000
very nicely explained NIC calc
What about Capital Gains Tax. How do you handle that as well as the rest of the income options you presented?
great work 10/10
this was amazing thank you soo much
Nicely explained, thank you.
@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?）
Beautifully explained. Is this income tax calculated in the balance after removing your Pensions and National insurance ?
beautifully explained. Made the concept super easy❤❤
Absolutely amazing, thank you very much for explanation!!!
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 👌🙏
I can't thank you enough Very helpful and precise
I can't thank you enough! simple yet precise!
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
Thank You 👍
Thank you so much
Thank you so much
Thanks for taking the time to make and share this. Really helpful. Thanks
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
Is the income Before or after Tax is taken off??
Thank you so much my lecturer is useless
If u r making 81k you ain't watching utoob vids for sure......
Some watch way too much youtube instead of getting things done. Professional KZreadrs though can make stacks by watching tips in other youtubers content.
Thanks. Its useful and finally how the calculation is. =]
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 :)
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 :)
quite interesting, BUT why no mention of Interest allowances. Some interest is tax-free.
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! :)
Hello, how did you get to profit? assuming we have 38,249.00 how much will this be with 4 NCS ?
Thank u farhan
All I can see is your arm!
Who's earning £6,750 p/m?
What a fantastic video, thank you.
Nice as an international student this is very helpful 👍🏼
Thank you the cii R03 book is crap this really helped
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?
May I know class 1 employer NI also pay by monthly base?
Good job sir very helpfull
wow ....so the employer has to basically pay about 8percent tax on top of the money he pays to someone else. for their national insurance..even though they pay it also?
This is good - saved it to refer back to it
Excellent video, thanks
Hope it was helpful! Thank you for your comment.
“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
Great explanation. Thanks a lot!!