Dentists Who Invest Podcast How The Changes In UK Capital Gains Tax Affect Dentists with Mike Bryan DWI-EP217
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Prepare to navigate the shifting sands of Capital Gains Tax with the guidance of our expert guest, Mike, a wizard in the realm of dental finance. As the CGT allowance in the UK takes a dive to £6,000 and braces for a further plunge to £3,000, your financial planning strategy demands a makeover. In this discussion, we dissect the impact of these changes on your assets, from property to stocks, and yes, even your digital currency hoard. Mike's insights will equip you to understand the current tax rates and prepare for a potential crypto bull run that could repaint the tax landscape.
Did you know that even your passion for collecting whisky, vintage cars, or watches has tax implications? We venture into the world of 'wasting chattels' and how they dance around the CGT, saving enthusiasts a pretty penny. The peculiarities of alcohol duty tax on your treasured whisky collections are also uncorked, revealing fascinating facets of asset ownership. And as we anticipate more tax reforms on the horizon, we unravel the intricate tapestry of today's tax obligations, painting a clear picture for UK taxpayers.
In the realm of saving versus growing wealth, not all accountants wield the Midas touch in investments. We debunk this myth and focus on how professionals, including dentists with their own practices, can harmonize tax efficiency with life's pleasures. Sharing strategies on enjoying the now while securing the future, we broach topics like maximizing ISA contributions for a more vibrant financial canvas. Furthermore, we demystify the complexities of NHS pensions and tax relief, carving out a roadmap for high-earning individuals to exploit the benefits to the fullest. Mike's expertise lights the way to a pension strategy that not only shelters you from today's tax storms but also builds a robust nest egg for the golden years.
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Disclaimer: All content on this channel is for education purposes only and does not constitute an investment recommendation or individual financial advice. For that, you should speak to a regulated, independent professional. The value of investments and the income from them can go down as well as up, so you may get back less than you invest. The views expressed on this channel may no longer be current. The information provided is not a personal recommendation for any particular investment. Tax treatment depends on individual circumstances and all tax rules may change in the future. If you are unsure about the suitability of an investment, you should speak to a regulated, independent professional.