Show Notes
When is it the right time to open a limited company? How should you budget when you're self-employed? And how do you stay as tax-efficient as possible? You sent us your biggest questions about self-employment, so we brought in financial planner and trained accountant Tom Ashworth, who’s also helping T set up his own Ltd company, to answer them.
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If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk.
This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life.
Chapters:
00:00 – Sole Trader vs Ltd Company 06:21 – Making Tax Digital 09:42 – Setting Up a Ltd Company 13:44 – TaxZap ad 14:58 – Budgeting 23:03 – T-Unlimited Ltd? 25:32 – Investing 28:24 – Expenses 33:47 – Pay Less Tax 36:09 – Vanta Ad 37:19 – Family Member as Shareholder 42:05 – Stocks & Shares ISA or SIPP? 55:01 – Feeling Worried? 38:08 – How 8.75% Tax Works on £100k Income 43:20 – Stocks & Shares ISA or SIPP? 54:03– Feeling Worried?
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