Joining us in the booth this week is Benedicta Egbeme, who is a CIMA Qualified Accountant, Management Consultant and Business Finance Coach.

In this episode we discuss:

- The income tax allowance

- How much you get taxed and at what salary

- The UK Tax system incentivising business owners

- Government getting rid of the dividend allowance

- How employees can reduce their tax liabilities

- The impact of the income tax allowance being frozen till 2028

- What to do once you've received your tax code

- HMRC targeting people with side hustles and much more

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TIMESTAMPS

00:00 - Preview

01:00 - Intro

01:35 - Meet Benedicta the Accountant

05:17 - What is the income tax allowance

09:13 - This happens if you earn over £100,000

11:25 - UK Tax Systems wants everyone one the same level

12:24 - Being an employee is a scam….Businesses pay less tax!

18:52 - How to reduce your tax liabilities as an employee…!

22:09 - If you earn £100,000 you have to do a self-assessment

23:06 - People don’t want to be responsible for their money

25:14 - Income tax rate frozen until 2028, how it affects you

26:52 - Why is the government getting rid of the dividend allowance?

30:12 - The UK has a better system than most…

34:45 - Do this once you receive your Tax code….

36:36 - HMRC targeting side hustlers…has anything changed…?

41:21 -If you don’t pay tax what will happen?

45:04 - How to pay your tax bills…!

46:32 - How far will HMRC go back with the side hustles

49:39 - You live in a country that has allowed you to make money safely…!

52:59 - Final words

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