YOUTUBE SIDE HUSTLES UK: The COMPLETE Guide To TAX 2023 | Sole Trader vs Limited Company AdminAugust 10, 2023060 views SIDE HUSTLE UK: Here is a Complete Guide to Tax for 2023 if you earn side (or extra) income or have a side hustle or business. Learn how much tax to pay, etc. Learn to Start or Grow your Side Hustle or Online Business with us at Financial Joy Academy https://FinancialJoyAcademy.com Interested in earning Passive Income? Learn implement 5 Passive Income Ideas from our premium step-by-step implementations guide for £1,000+/month (with patience) ✅ https://thehumblepenny.com/ogp ★★ SUBSCRIBE TO OUR CHANNEL HERE ★★ https://www.youtube.com/thehumblepenny?sub_confirmation=1 ★★ READ ON OUR BLOG ★★ Here is a blog post about this video as well: Side Hustles UK: The Complete Guide to Tax ★★ LINKS MENTIONED IN THE VIDEO ★★ Financial Joy Academy: https://financialjoyacademy.com DIVIDENDS vs SALARY (How To Pay Yourself As A Limited Company Director) – https://youtu.be/hE6mvL5uk8g ★★ OTHER USEFUL RESOURCES ★★ AMAZON FBA Course (Financial Joy Academy): https://members.financialjoyacademy.com/courses/run-a-profitable-amazon-fba-business 85 Ways to Make Extra Money: https://thehumblepenny.com/85-ways-make-extra-money How To Become a Freelance Writer: https://youtu.be/ddJbUdWSTdc How to Start a Tutoring Business: https://thehumblepenny.com/start-a-tutoring-business ★★ POPULAR VIDEOS ★★ 50 Best Side Hustle Ideas 2022 – https://youtu.be/z-MNDvHhIHY I Wish I Knew THIS About INVESTING MONEY When I Was 20 – https://youtu.be/C9c4TCAe1SE 5 Work-From-Home SIDE HUSTLE IDEAS That Make Money £500 p/m [UK 2021 EDITION] – https://youtu.be/rTdLWdPS3LM 9 Reasons Some People ALWAYS MAKE MONEY ONLINE (and others don’t) – https://youtu.be/X_FA1nU3dmM 9 BEST Passive Income Ideas for £1000 per month (In 2020) – https://youtu.be/qwn_Gc46ahE 5 Breakthrough Passive Income Ideas – https://youtu.be/FJUKYuo6Oyw 7 Things No One Tells You About Passive Income – https://youtu.be/6Mw0yncGj5Y 21 Passive Income Ideas For A Freedom Lifestyle – https://youtu.be/TIOBlUDtHsc 14 HIGH PAYING SIDE HUSTLES For 2022 To Start Today With Little Money – https://youtu.be/brAvEZCl0ys How To Invest £1000 (9 Best Ways to Invest) – https://www.youtube.com/watch?v=0jRQk8Xkvxg ★★ EQUIPMENT USED ★★ Canon EOS M50 Camera – https://amzn.to/2zcz1K0 Canon 5D Mark II Camera – https://amzn.to/2xRF1XD Canon EF 24 – 70mm F2.8L Lens – https://amzn.to/2lFwdRQ Canon EF 50mm F1.4L Lens – https://amzn.to/2lF6Sr9 Manfrotto Tripod – https://amzn.to/2YC3Sto Apple iMac 2019 – https://amzn.to/2lEXNyz Rode Microphone – https://amzn.to/2lFs0O2 ★★ ABOUT US ★★ MARY: I’m married to Ken and we have two boys aged 8 and 6. I’m a Londoner, born in Hackney! :) Day to day, I run the operations of The Humble Penny as a creative – doing everything from marketing to video editing. I studied Multi-media design and technology at Uni. When I’m not creating, I love vegan food, traveling, working out, and doing some outdoor fun things with my husband and kids :) KEN: I’m a husband to Mary and daddy first and foremost. Former CFO by day with over 12 years of experience in the investment business. I’m a Chartered Accountant and hold an MBA from Cambridge University. To explore my creativity, I’m a blogger, YouTuber, speaker, etc. I create from my experiences as a family man and First Generation Immigrant. I have a passion for all things Personal Finance, Business, and Personal Development. I also love Photography, Music, Travel, and Sport. We became Financially Independent aged 34 and our story has been featured on the BBC, ITV, Financial Times, The Sunday Times, etc. ★★ WANNA CONNECT? ★★ Blog – https://thehumblepenny.com Insta – https://www.instagram.com/thehumblepenny Pinterest- https://www.pinterest.co.uk/thehumblepenny Twitter – https://twitter.com/thehumblepenny Facebook – https://www.facebook.com/thehumblepenny/ ★★ BUILD WEALTH ★★ Visit our online school at Financial Joy Academy for all our wealth building Action Plans: Financial Joy Academy Massive thanks for watching and following our channel :) ♥ ★★ TIME STAMPS ★★ 0:00 – Intro 1:11 – Agenda for today 3:28 – Sole Trader vs Ltd Co. Which One? 04:50 – PART 1: SOLE TRADER SCENARIO 6:49 – Exemption for £1000 Trading Income 07:23 – Income Tax Thresholds 08:13 – TAX Calculations for Sole Trader 10:21 – Allowable Expenses For Sole Trader 10:51 – TAX Calculations for Sole Trader continues 15:17 – National Insurance for Sole Trader 17:17 – Admin & Summary for Sole Trader 18:55 – PART 2: LIMITED COMPANY SCENARIO 19:47 – Allowable Expenses For Limited Company 20:50 – Income Tax Thresholds 21:10 – Dividends 23:04 – Dividend Thresholds 24:00 – TAX Calculations for Limited Company 28:27 – Salary vs Dividends? 29:15 – Admin & Summary for Limited Company 30:16 – Final Words Best, Ken and Mary #tax #sidehustleuk #sidehustle ★★ WHAT THIS VIDEO IS ABOUT★★ SIDE HUSTLES UK: THE COMPLETE GUIDE TO TAX 2022 source