I worked like a dog all my life, I made enough money to retire comfortably at 50 years old. I never buy a new car, I live in an ex-council house, with no mortgage, and have invested the max in premium bonds. I done virtually everything in life I ever wanted, travelled the world, and have a great family with grand kids. Now, I managed my money very carefully, and watch in horror, as one government after another, blow our money on their idiotic schemes and pour money into their own pockets, if the UK was a business, we would be bankrupt for sure. Unfortunately MP,s are never held accountable for their stupidity, and we as the tax payers, always pick up the pieces, but what really pxsses me off, is these parasites, know that we can’t do a dam thing to change it!!!!! What a mess the UK has become!! And by the way, I am only a Welder, not some high-flyer like our people in authority.
Agree with the bankrupt thing. Cashflow is the heart of a healthy company - if you have a negative cashflow, you have to cut costs - UNLESS you are government, you just harvest more cash by ripping off the population & keep spending on shyte.
@@richardwhite1120 Well I ain’t no Nuclear Scientist, or an academic, but I am happy with that!! I trained for 4 years and studied Welding, so what does that make me, a Flower Arranger?? lol.
Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@RobertSimkin. What will stop them lasting the full five year term? The 2011 Act ensures that they do not need to call an election at all unless there is a vote of no confidence pushing them into it. There won't be a vote of no confidence because Labour have a huge majority and the House of Lords is stacked with Labour peers. They are sitting pretty until 2029 and nothing anyone can do about it.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
@@thetruth9210 You could vote populist? I.E. Geert Wilders of The Netherlands!👍👌 But The citizens of the United Kingdom are way too obtuse Thick & Dumb to do so;
@@thetruth9210 You could vote populist? I.E. Geert Wilders of The Netherlands!👍👌 But The citizens of the United Kingdom are way too Obtuse Thick & Dumb to do so;
Capital Gains Tax on property is essentially theft, as there's no actual gain, it's simply that the money required to buy the property has fallen in value, therefore more of it is required.
The more they print money they devalue the currency, so it takes more money to buy things that's how they are stealing all our money and descise it as inflation
Levels of tax are less than under Thatcher. Look at capital gains tax. This was the same as income tax under Thatcher. Yet somehow it's now less. Problem isn't tax, it's lack of growth.
Explain how Labour can improve services without taxes , the Torys gave billions to their donors and cronies ,now well out of the UK economy, Sunaks wifeis a great example.
Remember when they argued that 17m voting for Brexit was NOT a consensus, how about 9M voted for Labour BUT 58M didn't.... this does not represent a mandate from the people
Labour are the party of envy and hate anyone who has worked and have savings and pensions. I have worked full time and saved for 50 years.Paid all my taxed over this time but according to Kier Starmer doesn’t think I am working class. Apparently you need to rely on the state for support and spend every penny that comes into their hands. Smoking their head off, sitting in the pub or in front of the TV with a few cans of beer to be classed as working class.
Annoying - after years of being told to save into your own personal pension because the state pension is pants - the state comes and incrementally taxes your personnel pension
@@jasonbuksh2958 Governments steal everything from the productive to give to the unproductive. Besides we wont need it as after our 437th WHO mandated MRNA shot / lifetime of Davos-sponsored bug protein smoothies we wont be reaching retirement age anyway...
@@wyldwiisel9126 They can be stolen though. Also, the seller now has to submit a record to the goverment - so they know. Also, if you attempt to 'cash' them in - they also have to register this with the goverment .... as well as al the assoiacated risks that comes with that
@@lkearney7299New Border FARCE. Presumably the prime minister (human rights barrister) is all too familiar with the reason why the Tories have dismally failed to dramatically halt illegal migration. The establishment (all major parties) are scared of opposing European/International agreements. Until they get their act together, grow a backbone and actually put in place EFFECTIVE legislation/laws to STOP the illegal flow, nothing will change. It's all just a show, to make it look like they are doing something.
They'll come for your pensions, your savings and your property. I wouldn't put it past them to impose rent caps, licences for serviced accommodation and if you're an elderly couple in a big house, compulsory purchase to push you into a small flat and repurpose your house for migrants.
I think landlords need bringing to heal, they have put rents far above the property's value and auctioning rent amounts, which pushes up rent. Also, I think the very wealthy should be doing more to help struggling public services. Multi-millionaires have gotten away with paying less tax under the Tory government.
Ah… using landlords and the most productive in society as scapegoats and punishing them rather than addressing the real issue… the ever increasing size of the state.
Adult social care bill is massive. Look into this... A massive part of this budget is spent on Hotels for folks who have decided to pay Human Traffickers to get to the UK.
@pickashole I agree with you 100% I am appalled at the plans to punish people born in the UK who are sick and disabled, they are getting blamed for the huge increase in claiments. Yet they fail to mention that the DWP have been told to fast track Migrants presenting with Post Traumatic stress disorder for housing and benefits. One of their interpreters revealed that the migrants are now couching each other on how to present with PTSD. Yet British people with mental health issues are being insulted and called lazy many are living on the streets. All of our systems have been cut back to the bone. Our jobs are being lost to over seas companies. We have nothing left in the UK for us to grow from. Now Labour has made this all worse by shutting down oil and Gas. We don’t have the infrastructure set up for all the demands that are going to be put on the system that is woefully inadequate. Looks like we are all going to freeze this winter. We are going to have lots of power cuts and freezers full of food going bad. Thanks for nothing Labour your plans for energy are crazy! Especially now when we could end up being dragged into a global war. You lot need to seriously wake up to protecting the people who live in this country. Life is hard enough right now.Stop making things worse.
My recommendation is to leave the country. All Britain has to look forward to is a violent, communist nightmare more like North Korea than the country we grew up in.
There are enough reasons for civil unrest as it is. If they raid pensions and savings there WILL be civil unrest. I am a common man yet I am scared I won’t pass my very modest house to my needy children. The reason public services are in the mire is their salaries and ensuing pensions. Head teachers on over 100k mant nhs managers and Drs on 100k+ council big wigs the same
Have they any intention of taxing the people who are getting wefare benefit and free housing whose income is more than £15k a year, there are millions of them?
@@ty194 no they stole pretty much everything for themselves. But fixing things will cost money in the meanwhile, whilst the extent of the damage, undoing dodgy contracts etc. Or are you saying everything should come to a halt meanwhile?
I guarantee they won't do anything that affects their own wealth - in fact they will try to increase their own wealth. There is more people working in this country so more people paying taxes so where is all that money going. Perhaps they need to look at that before they make any plans to rip the public off.
Yes I agree , like disabled people that are being penalised , those who have long term illness have to pay carers to look after them , the enhanced rate of care component goes on caregivers showering the disabled, people have to cook for them , cleaners , people have to wash their clothes , and now they want to pay them in vouchers , I’m disgusted that long term disabled people who have carers are being affected like this , but it’s not a problem to give money to illegal immigrants , who live in 5* accommodation , are given EVERYTHING FREE , food , clothes , iPhones , pocket money , these immigrants haven’t paid anything into our system but are taking everything out . Disabled people haven’t always been ill , they’ve contributed. I’m livid …
Done that. All my savings are in gold bullion stashed in a place outside the UK. Known only by me. The next person to find out will be the reader of my will. At that point I won't care.
You moved very quickly to do that since July 4. Im guessing that has little to do with a labour government. And its in a bonded warehouse in Switzerland!
Labour will always be Labour. Tax anyone who works, to give to those who can't be bothered. Bring everyone down to the same level rather than trying to encourage people to better themselves. Why work hard when you'll just be taxed to death for doing so.
@@davidb6403 those that cry first, cry the longest, the poor and the not so poor and now many of the middle class workers will pay the biggest personal costs, the more fortunate take their money away to a better place and laugh the longest at the folly of over taxation
JUST SUBSCRIBED: Thanks doc. I was searching for info on statins as I was just placed on it due to high cholesterol at almost 7. So glad I found you because I took it just for 2weeks and began to feel loads of nasty health side effects. I was never told any side effects except when I asked the pharmacist who said I should just read the instructions!😢 Doctor, would you also talk on how statins might affect a lady on menopausal hrt? Thank you
Another really interesting and insightful video, thanks Carl 👍. Definitely worried about potential CGT changes in the next couple of years, so will be keeping an ear to the ground on this subject.
I took my pension early to compensate / firefight the brutal increase in interest rates as have a chunk of borrowing secured against a hard earned Rental Business. This was after the Government's greedy Section 24 Landlord Tax. I now work for the banks giving them all my cash every month. Can't sell as interest rates depict a buyers market. Trying to remortgage is tricky. I will be happy when it's all over and I have nothing.
@@janetmalcolm6191 I've already seen that they've started letting deplorables out of prison and they plan to tax everyone to high heaven one way or another. You make this about Tories and for the life of me I can't see why at this point people are so partisan.
Yes labour only been in for a week Already. Water bills increase Council tax increase soon Labour happy with the BBC licence .... Letting out prisoners No point investing in UK No future
We dont have a tax income problem we have a tax waste problem, the country is in a slow death spiral and its only if Labour make this a fast spiral or not
As a UK Pensioner and with LABOUR clearly targeting us on all fronts . HELP HELP HELP . Having worked and saved all my life who could have predicted this .
Which country do we have to bank in.? Don’t save for retirement.. spend spend and enjoy my advice as a pensioner been recently robbed by local governments
I would expect a big reduction in the annual ISA allowance and quite likely a lifetime allowance on them too; I doubt Starmer & Reeves have much sympathy for the increasing cohort of ISA millionaires! For my non ISA & pension assets I have instructed my wealth manager to switch mostly into worldwide index tracking funds which won't need much if any annual rebalancing, thus triggering gain realisations, and I'll also be moving more into offshore bonds so I can withdraw up to 5% pa tax free for at least 20 years (which I hope will see this government out!) while still, I hope, benefitting from gross roll-up. On IHT, I wouldn't be surprised to see lifetime transfers brought into immediate charge (effectively Capital Transfer Tax resurrected), with the 7 year rule abolished. I'll be interested to see what they do with VCT, SEIS and EIS which I have found vey useful.
Only 850 Billion in debt with a AAA credit rating in 2010. In 2024 we have a 2.75 TRILLION debt and an Aa3 credit rating. Now that's what I call wasting other peoples money.
I take on board what he is saying but some of the recommendations may turn out to be costly. For instance, he recommendeds that you use your full ISA allowance, but that might turn around and bite you on the arse if the government takes into account your savings if they decide to means test your state pension
Wealth tax is one way or another very likely. Land tax is likely. Land use tax is quite probable. The country is in a dire mess for one obvious readon, over spending and unwise decisions. The country has sold off it's assets so the working person must pay
5:05 I'm no fan of Labour but I do think Starmer genuinely mispoke a week or so ago when alluding to 25% tax free cash on pensions. His words didn't make sense at the time (e.g. pension TFC is not going to "lapse" in a few years) and the subsequent clarifications were pretty clear.
I’m completely happy with CGT going up, I pay CGT and it’s fine. There needs to be wealth taxes, you simply can’t tax income of the poorest any more. I’d increase the 45% income tax rate to 50% and use this money to increase the basic rate threshold. I pay 45% tax and I’m ok with it. The country is broken and it needs fixing. For example im using my private health insurance to get an operation that has a two year waiting list on the NHS. It’s simply not fair. If you earn huge amounts of have huge wealth then pay more tax. As for my kids, they will inherit no more than a house, I’d simply ruin their lives if I left the £2m. I guess looking at the comments this won’t go down well, but seriously how much money does anyone need when there are millions of people in work claiming benefits and using food banks.
@@foilrider2000don’t talk nonsense sending old equipment to Ukraine saves the UK money because it’s cheaper, as for migrants the Tories defunded the processing that caused the problem so that rich Tory donors got £4000 a day to have the asylum barge mooring on there land or putting up migrants in their substandard accommodation at taxpayer expense. Ignorance and corruption is what you get from the Tory’s labour has a proven track record on dealing with migrants that the incompetent Tories couldn’t even get close to.
Very good talk. So i subscribed. It better not be the case that I've saved hard all my life when i should've spent it all on having fun at the time. Does the govt want us to be irresponsible spenders rather than people who don't have to rely on the state in old age?
Which is code for don’t pay your required taxes which provide services for all. Says it all. Greed is good said Maggie. And those who don’t pay into the system can’t expect roads, lighting, refuse collection, trains, schools, libraries, courts, etc.
Same . I’m still working. Was looking forward to receiving my pension. If I sell and downsize I will be taxed if the house fetched more money. If I have more money I can’t get help with any benefits. Or if I do get a pension it will be means tested. I’ve got 3 half years before I retire the future is grim . 😕
Would like to see higher rate pension tax contributions reduced to a flat 25%. This also for those who earn below the higher rate £50k threshold. In effect a flat 25% contribution. It’s those on lower incomes who aren’t saving enough for retirement 😢
You do know that the highest tax burden in 70 years was under the last government. And that the frozen personal allowance means that there is a year on year tax increase.
I am more than happy to pay a little more on my taxes if it helps those less fortunate than myself and also goes towards paying for a decent NHS, Public Transport, Clean Rivers and waterways, Education. The problem we have is that everyone wants tax cuts at the expense of the aforementioned,. The Tories have screwed up the economy and the country big time and should never be given the opportunity to get anywhere near the levers of power.
But you already are paying “a little more” into health and social security measures but they still do not help the less fortunate because they are poorly run.
This low tax / small state ideology is great at saving the rich lots of money, but the majority of people will save very little and then have to hand over life savings if an elderly relative needs care, a false economy. Will be interesting what labour do in the autumn statement, as you point out there are loads of options to increase tax, none of which confirmed in anyway, but to have functioning public services and control debt, increases are likely.
It’s a statical fact that UK is one of the lowest tax countries in Europe as a % GDP eg 2022 OECD statistics UK 36%, NL 38%, Nordics 41-44%, France 46%. I lived in NL 13 years where taxes were much higher but public services were amazing and day to day life was much easier than UK. Other countries target wealth much more than UK, I have a low 6 figure income but after pension credits pay approx 15% income tax a year, no wonder nothing works here.
@@alistairrobinson3865 No let's not play the GDP game, when that doesn't translate to GDP per capita i.e. a real measure of wealth per person and how well people are doing.
@@ty194 agree gdp per capita much better measure of wealth, but we are not talking wealth, we are talking taxation and the main benchmark used is tax revenue % gdp. I’m not suggesting average earners should pay much more tax, more that the loopholes exploited by the wealthy should be closed to bring in more.
@@alistairrobinson3865 But the problem is you're using the GDP argument to make the case for us to be taxed more asserting that we are a low tax country when that's not true. Playing the overall GDP game doesn't give you a true picture as to how highly we're taxed as individuals especially when you factor in indirect taxes. If you did, you will find that we're one of the highest taxed countries in the world outside of complete basket case countries. We are absolutely not a low tax small state country. I don't know how anyone can come to that conclusion.
Can you be more specific (on the date) in regards to [5 mins & 15 secs] "that the current agreement is due to expire in a couple of years" ... would this be for April 2026 ??? ... and do they not have to give any notice whatsoever ? ... or that they can announce it at midnight of the day before implementation ? ???
Thing with that, commun ism, you give 2 people £1000. One person works hard investing it in a. Business & then in 10 years is a multi millionaire. The 2nd person spends the £1000, has nothing left & lives on benefits....which us paid for by the 1st person....do you really think it's fair to then take half the money the 1st person worked hard for and give it to the one who became a drain on society & never worked?
Just one question when does the 25% tax free lump sum expire you said in a couple of years so would it be around 2026 am 58 thinking of cashing in my final salary pension fund at 60 yrs old . Plz advice if you can thank you .
Pull down equality. They say we need to be fairer and more equal but they don't raise those worse off up to a higher level, they just pull down the successful
Protect your wealth from Labour. Are you really being serious. Over the last 14 years of Tory Government we have seen this country go from around 25 billionaires to somewhere around 175 billionaires, we have seen the super rich get richer and everyone else, yes, everyone else get poorer. The average person is around £11,000 a year worse off. Stop dragging out the bogey man to get your views and come up with something loosely based around truth and reality.
Labour are going to raise taxes and shaft us any way they can … yes, those of us who have saved and invested need to protect what we have from them. The Tories were useless, Labour will be even worse.
That's funny because in the last 14 years I've gone from being single and living on my own renting and barely being able to feed myself, to having a wife (stay at home mother) 3 kids and a house with saving money on the way, while doing house repairs (now looking at extensions to the house). Learnt to drive 11 years ago and have owned 4 cars in that time. 12 years ago, I went to college for 2 years for free as an adult learner. We holiday at centre parks every year, days out throughout the year, gym membership for the whole family, dinners out now and again. And now I'm looking at investing. All on one wage for the house. I'm not self employed and I only work 40-50 hours a week. Yeah, some bills have gone up and food prices have gone up but considering I've taken on so much more than I had 15 years ago I'm still better off. People just make excuses and most likely pissing their money up the wall, then blame the government.
I think you underestimate how much more getting a better job and sharung costs with your partner improved your living standards. You succeeded in spite of this government, not because of them. @djdusted6485
@aidandesilva I think you missed my point. I'm not sharing costs. We are a one wage household. I support 4 other people, and I'm better off. My wage has not gone up that significantly, but yes, I have changed jobs and career path. I am probably on 10k more than I used to be. In inflation terms, that's sod all. I am looking for promotion in the next few weeks, which may add another 5k. I came out of school with no gcse's I've never been in a high paid job, this promotion asks for a bachelors degree so could probably consider it as a high paying job if I get it.
I worked like a dog all my life, I made enough money to retire comfortably at 50 years old. I never buy a new car, I live in an ex-council house, with no mortgage, and have invested the max in premium bonds. I done virtually everything in life I ever wanted, travelled the world, and have a great family with grand kids. Now, I managed my money very carefully, and watch in horror, as one government after another, blow our money on their idiotic schemes and pour money into their own pockets, if the UK was a business, we would be bankrupt for sure. Unfortunately MP,s are never held accountable for their stupidity, and we as the tax payers, always pick up the pieces, but what really pxsses me off, is these parasites, know that we can’t do a dam thing to change it!!!!! What a mess the UK has become!! And by the way, I am only a Welder, not some high-flyer like our people in authority.
Agree with the bankrupt thing. Cashflow is the heart of a healthy company - if you have a negative cashflow, you have to cut costs - UNLESS you are government, you just harvest more cash by ripping off the population & keep spending on shyte.
Well said Jon!
@@jonwelderbeast.438 2 things Jon, you are NOT only a welder and this country is already bankrupt both financially and morally.
I worked all my life and retired at fifty. Oh, okay then.
@@richardwhite1120 Well I ain’t no Nuclear Scientist, or an academic, but I am happy with that!! I trained for 4 years and studied Welding, so what does that make me, a Flower Arranger?? lol.
Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
Mind if I ask you to recommend this particular advisor you using their service?
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
By 2030, Klaus Schwabb told us we'd own nothing and be happy!
Labour will beat that by a year or two.
I think you will find that this government won't last a couple of years
Labour and WEF = same
@@RobertSimkin. What will stop them lasting the full five year term? The 2011 Act ensures that they do not need to call an election at all unless there is a vote of no confidence pushing them into it. There won't be a vote of no confidence because Labour have a huge majority and the House of Lords is stacked with Labour peers. They are sitting pretty until 2029 and nothing anyone can do about it.
I was born with nothing and still have most of it left.
That’s hilarious 😂
Me too! 😂
Wrong mentality
Join the club mate.
Sea sick steve
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
If they touch ISAs, pensions or capital gains they will be out the door in 5 years
Oh no, they will be out within 2 years !
@adamday2067 well that would be highly out of ordinary but who knows when they'll be taking all blame for the upcoming recession
Labour will struggle to stay in power for a term,government keeps getting bigger and more costly.The country needs smaller government.
@@thetruth9210 You could vote populist? I.E. Geert Wilders of The Netherlands!👍👌 But The citizens of the United Kingdom are way too obtuse Thick & Dumb to do so;
@@thetruth9210 You could vote populist? I.E. Geert Wilders of The Netherlands!👍👌 But The citizens of the United Kingdom are way too Obtuse Thick & Dumb to do so;
Capital Gains Tax on property is essentially theft, as there's no actual gain, it's simply that the money required to buy the property has fallen in value, therefore more of it is required.
Doesn't matter.
The more they print money they devalue the currency, so it takes more money to buy things that's how they are stealing all our money and descise it as inflation
This is very good advice. Anyone who thinks Labour isn’t going to tax us to high heaven is deluded.
Levels of tax are less than under Thatcher. Look at capital gains tax. This was the same as income tax under Thatcher. Yet somehow it's now less. Problem isn't tax, it's lack of growth.
@@barking_mad6649I know you think you made a point, but you really didn't - you just made a strawman argument.
@@barking_mad6649 no - it’s massive mismanagement and bad spending by the state
Explain how Labour can improve services without taxes , the Torys gave billions to their donors and cronies ,now well out of the UK economy, Sunaks wifeis a great example.
@@ronaldsimpson8890 I didn't realise I was paying 0% tax. Where has all my money gone? 😲
Remember when they argued that 17m voting for Brexit was NOT a consensus, how about 9M voted for Labour BUT 58M didn't.... this does not represent a mandate from the people
@@colinnicholas5482 Brexit was a historic mistake and will inevitably be gradually undone….
Hi Carl what to total idiot lol.
The tories left the country bankrupt.
True, but so what?
😂😂😂
@@tomonetruth Proves The United Kingdom has a Corrupt Non Democratic Voting System in place;
Labour do not seem to like people who want to work hard and save, save for their children and family.
Hence the country will go to the dogs very quickly !!!
Michelle Mone wants a word
@@michaelellis7326 lol where have you been for 14 years?
@@michaelellis7326 keep reading the Daily Mail 😅
Labour are the party of envy and hate anyone who has worked and have savings and pensions. I have worked full time and saved for 50 years.Paid all my taxed over this time but according to Kier Starmer doesn’t think I am working class. Apparently you need to rely on the state for support and spend every penny that comes into their hands. Smoking their head off, sitting in the pub or in front of the TV with a few cans of beer to be classed as working class.
Annoying - after years of being told to save into your own personal pension because the state pension is pants - the state comes and incrementally taxes your personnel pension
@@jasonbuksh2958 Governments steal everything from the productive to give to the unproductive. Besides we wont need it as after our 437th WHO mandated MRNA shot / lifetime of Davos-sponsored bug protein smoothies we wont be reaching retirement age anyway...
@@jasonbuksh2958 nothing has been announced remember, this is just pure speculation
@@jasonbuksh2958 gold sovereigns can't be taxed keep them under your bed
@@wyldwiisel9126 They can be stolen though. Also, the seller now has to submit a record to the goverment - so they know. Also, if you attempt to 'cash' them in - they also have to register this with the goverment .... as well as al the assoiacated risks that comes with that
Personal pension has always been taxed but instead of having to pay a lump sum every year it is deducted every month
A new border force, hell fire thats a joke
Should be labelled for what it is. The British Migrant Free Ferry Service
@@kevlahead7278Or in other words The RNLI? The official Alien Transportation Service;
@@kevlahead7278 We laugh, but "They" absolutely intend to turn the UK into a Turd World Shithole.
A joke indeed. Unbelievably pathetic, they're an utter waste of taxpayers' money.
@@lkearney7299New Border FARCE. Presumably the prime minister (human rights barrister) is all too familiar with the reason why the Tories have dismally failed to dramatically halt illegal migration. The establishment (all major parties) are scared of opposing European/International agreements. Until they get their act together, grow a backbone and actually put in place EFFECTIVE legislation/laws to STOP the illegal flow, nothing will change. It's all just a show, to make it look like they are doing something.
So few governments actually consider reducing costs, like overstaffed non medical parts of the NHS, or the many bloated parts of the Civil Service.
They'll come for your pensions, your savings and your property. I wouldn't put it past them to impose rent caps, licences for serviced accommodation and if you're an elderly couple in a big house, compulsory purchase to push you into a small flat and repurpose your house for migrants.
😂 keep stressing ❤
It sort of started in a small way with the Tories. It may well accelerate under Labour
I think landlords need bringing to heal, they have put rents far above the property's value and auctioning rent amounts, which pushes up rent. Also, I think the very wealthy should be doing more to help struggling public services. Multi-millionaires have gotten away with paying less tax under the Tory government.
@@karlclark8625multimillionaires have got richer as the country gets poorer. The sycophants and wannabes will say it's because they work harder. 😂
Ah… using landlords and the most productive in society as scapegoats and punishing them rather than addressing the real issue… the ever increasing size of the state.
Adult social care bill is massive. Look into this... A massive part of this budget is spent on Hotels for folks who have decided to pay Human Traffickers to get to the UK.
The Tories tax cutting for the rich bill is massive too! Not to mention waste on faulty PPE, which has been written off by a Tory PM.
@pickashole I agree with you 100% I am appalled at the plans to punish people born in the UK who are sick and disabled, they are getting blamed for the huge increase in claiments. Yet they fail to mention that the DWP have been told to fast track Migrants presenting with Post Traumatic stress disorder for housing and benefits. One of their interpreters revealed that the migrants are now couching each other on how to present with PTSD. Yet British people with mental health issues are being insulted and called lazy many are living on the streets. All of our systems have been cut back to the bone. Our jobs are being lost to over seas companies. We have nothing left in the UK for us to grow from. Now Labour has made this all worse by shutting down oil and Gas. We don’t have the infrastructure set up for all the demands that are going to be put on the system that is woefully inadequate. Looks like we are all going to freeze this winter. We are going to have lots of power cuts and freezers full of food going bad. Thanks for nothing Labour your plans for energy are crazy! Especially now when we could end up being dragged into a global war. You lot need to seriously wake up to protecting the people who live in this country. Life is hard enough right now.Stop making things worse.
"Wealth Tax" is the scary one. They might just be insane enough to try it.
That's GUARANTEED !!!!!!
Hence why I left Netherlands
My recommendation is to leave the country. All Britain has to look forward to is a violent, communist nightmare more like North Korea than the country we grew up in.
😂😂😂
The problem is finding somewhere stable and where your capital/income would be safe
@@johnj4860 If you can do it multiple jurisdictions and multiple passports are the way to go. Permanent traveller status is the best of all.
Leave and don't let the door knob hit you in the ass!!!!!!!!!!!!!!!
I'm traveling all the time and feel like a feather in the wind
There are enough reasons for civil unrest as it is. If they raid pensions and savings there WILL be civil unrest. I am a common man yet I am scared I won’t pass my very modest house to my needy children. The reason public services are in the mire is their salaries and ensuing pensions. Head teachers on over 100k mant nhs managers and Drs on 100k+ council big wigs the same
You have hit the nail on the head. Worthy as these jobs are, Doctors and Head teachers, they are not worth 100 k plus per year.
I think the Laffer curve will kick in meaning the more you try and raise tax the less you get in.
Bueller? Bueller?
Would not surprise me if Labour made any new tax rules retrospective.
They backdated tax rules three years on offshore workers so there is already a president for back dating tax changes
Have they any intention of taxing the people who are getting wefare benefit and free housing whose income is more than £15k a year, there are millions of them?
Shut your mouth 🤐
My thoughts entirely with this too.
I'm ok I live on 8k a year it can be done with no debts😊
@@karlpennington72you must be anorexic and feckin freezing then ?😂
well all those pensioners and working people that voted for Labour..... they are now coming for your money! That will teach you for voting for them!
Everybody wants services, nobody wants to pay for them.
Yet you stayed quiet as a mouse while the Tories systematically destroyed all public services and pushed the UK’s debt to nearly 100% of GDP.
Rubbish!
@@TheBlokeNextDoorMusicSo you're saying that the Tories didn't tax us enough?
@@ty194 no they stole pretty much everything for themselves. But fixing things will cost money in the meanwhile, whilst the extent of the damage, undoing dodgy contracts etc. Or are you saying everything should come to a halt meanwhile?
That a new border force to bring more boats in
I guarantee they won't do anything that affects their own wealth - in fact they will try to increase their own wealth. There is more people working in this country so more people paying taxes so where is all that money going. Perhaps they need to look at that before they make any plans to rip the public off.
Yes I agree , like disabled people that are being penalised , those who have long term illness have to pay carers to look after them , the enhanced rate of care component goes on caregivers showering the disabled, people have to cook for them , cleaners , people have to wash their clothes , and now they want to pay them in vouchers , I’m disgusted that long term disabled people who have carers are being affected like this , but it’s not a problem to give money to illegal immigrants , who live in 5* accommodation , are given EVERYTHING FREE , food , clothes , iPhones , pocket money , these immigrants haven’t paid anything into our system but are taking everything out . Disabled people haven’t always been ill , they’ve contributed. I’m livid …
Not only Labour do that !!!
Done that. All my savings are in gold bullion stashed in a place outside the UK. Known only by me. The next person to find out will be the reader of my will. At that point I won't care.
Always good to have some gold and I think a good choice to go for actual physical code over ETCs.
You moved very quickly to do that since July 4. Im guessing that has little to do with a labour government. And its in a bonded warehouse in Switzerland!
@@carlrobertsifaHow are public services to be funded?, with your shite?
@@carlrobertsifaThere is no Labour government under Tory-Starmer, they are about as Left-Wing as Sunak.
Gold is overrated
Billions to foreign aid 😢
@@grahampayne8376 what doesn’t your boss not like the generous donations of free javelins,Nlaws and storm shadows 😂
So labour following what the torys did for past 14 years😮
And to Ukraine and to housing the Illegal immigrants
Labour will always be Labour. Tax anyone who works, to give to those who can't be bothered. Bring everyone down to the same level rather than trying to encourage people to better themselves. Why work hard when you'll just be taxed to death for doing so.
Well I can't be bothered with the UK anymore, when do I get my free money, I know when labour has all of my hard earned money first
ha ha ha cry harder Tory boy, your grift is at an end!
@@davidb6403 those that cry first, cry the longest, the poor and the not so poor and now many of the middle class workers will pay the biggest personal costs, the more fortunate take their money away to a better place and laugh the longest at the folly of over taxation
Suggest you read David Roger Webb’s book ‘The Great Taking’ and see the plan to take all your wealth including physical assets.
It was free to,download as a pdf and Parallel Systems on CZcams did a good interview with the author
A global pandemic was exactly what was predicted. In October 2019 to be precise at Event 21.
Finally, someone who gets it 😁🤝
Build council houses for workers not the unemployed the rental income from that will generate revenue for councils to spend on services
Very well explained and presented Carl, clear and straightforward.Look forward to your next blog.
Soon to be repeated with bird flu just in time to increase the number of postal votes in the American election.
I wonder how many Labour voters came to watch this video.
Fossil fuel tax ,pay per mile driving,carbon tax,
JUST SUBSCRIBED:
Thanks doc. I was searching for info on statins as I was just placed on it due to high cholesterol at almost 7. So glad I found you because I took it just for 2weeks and began to feel loads of nasty health side effects. I was never told any side effects except when I asked the pharmacist who said I should just read the instructions!😢
Doctor, would you also talk on how statins might affect a lady on menopausal hrt? Thank you
What wealth did anyone accumulate in the last 14 years?
Turkeys. Voting. Christmas. Need all that money for cronies and laundering in Ukraine etc.
Then again - where's the audit of where it all goes...?
I don't think that you need to worry we have a Tory PM again.
Health is important as well.
Another really interesting and insightful video, thanks Carl 👍.
Definitely worried about potential CGT changes in the next couple of years, so will be keeping an ear to the ground on this subject.
Thanks Colin. Yes CGT keeps coming up so something looks likely.
Buy UK Gold sovereigns or Britannias. As they are legal tender they will always be free of all taxes.
Thanks to the last Government, I don't have any 'wealth' any more! Problem solved.
As an early retiree with my pot already in a flexible draw down fund, what should I do to protect my pension pot? Emigrate?
Exactly !!!
PUT IT IN AN OFFSHORE ACCOUNT, TRUST NOBODY.
I wonder how many train drivers will have to decide between HEAT OR EAT this winter.
Crap. Debt and welfare.
I took my pension early to compensate / firefight the brutal increase in interest rates as have a chunk of borrowing secured against a hard earned Rental Business. This was after the Government's greedy Section 24 Landlord Tax. I now work for the banks giving them all my cash every month. Can't sell as interest rates depict a buyers market. Trying to remortgage is tricky. I will be happy when it's all over and I have nothing.
The poor are finished. Anyone working for minimum wage will be on the streets by the end of Labours term in office.
The poor are finished now after the Tories! Where have some people been.
@@janetmalcolm6191Okay, and?
@@ty194 See what Labour ends up doing. Nobody knows. A Govt needs time.
@@janetmalcolm6191 I've already seen that they've started letting deplorables out of prison and they plan to tax everyone to high heaven one way or another. You make this about Tories and for the life of me I can't see why at this point people are so partisan.
@@BillyBanter100 we have 30% children living in poverty after 14 years of conservatives……. labour will reduce inequality
Fuel duty will skyrocket
Yes labour only been in for a week
Already.
Water bills increase
Council tax increase soon
Labour happy with the BBC licence ....
Letting out prisoners
No point investing in UK
No future
Don't forget child murders
And pensioners being robbed of Winter fuel Allowance (that there Mr Blair brought in!!), all this within a week!!
We dont have a tax income problem we have a tax waste problem, the country is in a slow death spiral and its only if Labour make this a fast spiral or not
As a UK Pensioner and with LABOUR clearly targeting us on all fronts . HELP HELP HELP . Having worked and saved all my life who could have predicted this .
Which country do we have to bank in.? Don’t save for retirement.. spend spend and enjoy my advice as a pensioner been recently robbed by local governments
I would expect a big reduction in the annual ISA allowance and quite likely a lifetime allowance on them too; I doubt Starmer & Reeves have much sympathy for the increasing cohort of ISA millionaires!
For my non ISA & pension assets I have instructed my wealth manager to switch mostly into worldwide index tracking funds which won't need much if any annual rebalancing, thus triggering gain realisations, and I'll also be moving more into offshore bonds so I can withdraw up to 5% pa tax free for at least 20 years (which I hope will see this government out!) while still, I hope, benefitting from gross roll-up.
On IHT, I wouldn't be surprised to see lifetime transfers brought into immediate charge (effectively Capital Transfer Tax resurrected), with the 7 year rule abolished.
I'll be interested to see what they do with VCT, SEIS and EIS which I have found vey useful.
Thanks Carl excellent content
Thank you for sharing your knowledge. ❤
Too late - the Tories took everything from us.
Happy I left England 21 years ago never going back
At the end of the day ,all labour will want to do is spend more " other people's money"
Like Tories have over 14 years? They squirrelled tax money away but no services for people.
Only 850 Billion in debt with a AAA credit rating in 2010. In 2024 we have a 2.75 TRILLION debt and an Aa3 credit rating. Now that's what I call wasting other peoples money.
I take on board what he is saying but some of the recommendations may turn out to be costly. For instance, he recommendeds that you use your full ISA allowance, but that might turn around and bite you on the arse if the government takes into account your savings if they decide to means test your state pension
Do you think they will make state pension means tested? ( I hear lots of rumours on this)
Very valuable information 👌
Great info keep it up, subscribed.
They will all feather their on nests as usual
Wealth tax is one way or another very likely. Land tax is likely. Land use tax is quite probable.
The country is in a dire mess for one obvious readon, over spending and unwise decisions.
The country has sold off it's assets so the working person must pay
Anyone who voted Labour needs help!
Get out of their system.. buy gold n silver in your own possession.
If You Have funds in the meantime !!
A bit late dude. We are worse off NOW due to the conservative government
All we need to know is that governments dosen't care about the average middle class joe; we are nothing more than a cash cow.
5:05 I'm no fan of Labour but I do think Starmer genuinely mispoke a week or so ago when alluding to 25% tax free cash on pensions. His words didn't make sense at the time (e.g. pension TFC is not going to "lapse" in a few years) and the subsequent clarifications were pretty clear.
Freudian slip, I think 🤔
@@stefanoprivetto6744 Maybe, we'll see - Labour will have a potential revolution on their hands if they try it though...
Starmer seems to be "misspeaking" a lot.
I’m completely happy with CGT going up, I pay CGT and it’s fine. There needs to be wealth taxes, you simply can’t tax income of the poorest any more.
I’d increase the 45% income tax rate to 50% and use this money to increase the basic rate threshold. I pay 45% tax and I’m ok with it.
The country is broken and it needs fixing. For example im using my private health insurance to get an operation that has a two year waiting list on the NHS. It’s simply not fair. If you earn huge amounts of have huge wealth then pay more tax.
As for my kids, they will inherit no more than a house, I’d simply ruin their lives if I left the £2m.
I guess looking at the comments this won’t go down well, but seriously how much money does anyone need when there are millions of people in work claiming benefits and using food banks.
The trouble is no matter how much tax we pay it is constantly squandered, ie Ukraine and illegal immigrants expenses.
@@foilrider2000don’t talk nonsense sending old equipment to Ukraine saves the UK money because it’s cheaper, as for migrants the Tories defunded the processing that caused the problem so that rich Tory donors got £4000 a day to have the asylum barge mooring on there land or putting up migrants in their substandard accommodation at taxpayer expense.
Ignorance and corruption is what you get from the Tory’s labour has a proven track record on dealing with migrants that the incompetent Tories couldn’t even get close to.
And that's the healthiest approach to taxation and an indication of a mature and responsible citizen.
To support the Islamification of the UK? Wake up.
Very good talk. So i subscribed. It better not be the case that I've saved hard all my life when i should've spent it all on having fun at the time. Does the govt want us to be irresponsible spenders rather than people who don't have to rely on the state in old age?
Which is code for don’t pay your required taxes which provide services for all. Says it all. Greed is good said Maggie. And those who don’t pay into the system can’t expect roads, lighting, refuse collection, trains, schools, libraries, courts, etc.
those who don't pay into the sytem are the richest in the UK
whatever they do do, it should be in the form of simplification, not further complexity
Remind us who increased the debt?
Do you want a list?
Have nothing to protect, but they can have my last can of beans if they like. 🤷♂
The state should be no bigger than a quarter of our economy.
Will they really stop me receiving my state pension just because i’ve paid off my house?
Yes.Where else will they get our money.
Same . I’m still working. Was looking forward to receiving my pension. If I sell and downsize I will be taxed if the house fetched more money. If I have more money I can’t get help with any benefits. Or if I do get a pension it will be means tested. I’ve got 3 half years before I retire the future is grim . 😕
excellent as always！
Would like to see higher rate pension tax contributions reduced to a flat 25%. This also for those who earn below the higher rate £50k threshold. In effect a flat 25% contribution. It’s those on lower incomes who aren’t saving enough for retirement 😢
As my dad always said come into the world with noting go out owing
Where would be the best place to invest £10000 .? Thanks John
Hold some CGT free gold at least 5-10% of your wealth
Labour have had 14 years to plot their fiscal assault. Second guessing to save paying will be very difficult.
You do know that the highest tax burden in 70 years was under the last government. And that the frozen personal allowance means that there is a year on year tax increase.
Labour - “Hold my beer!”
I am more than happy to pay a little more on my taxes if it helps those less fortunate than myself and also goes towards paying for a decent NHS, Public Transport, Clean Rivers and waterways, Education. The problem we have is that everyone wants tax cuts at the expense of the aforementioned,. The Tories have screwed up the economy and the country big time and should never be given the opportunity to get anywhere near the levers of power.
But you already are paying “a little more” into health and social security measures but they still do not help the less fortunate because they are poorly run.
It won’t tho . We could give them everything we have they would still fuck it all up
How.... cash everything and move to Switzerland
Buy BC cold storage
Taxes are 70 year high under the Tories .I got no money left under the Tories.
This low tax / small state ideology is great at saving the rich lots of money, but the majority of people will save very little and then have to hand over life savings if an elderly relative needs care, a false economy.
Will be interesting what labour do in the autumn statement, as you point out there are loads of options to increase tax, none of which confirmed in anyway, but to have functioning public services and control debt, increases are likely.
Well, have you ever seen it to know that? When was the last time we were low tax / small state? Were you even born? I know I wasn't.
It’s a statical fact that UK is one of the lowest tax countries in Europe as a % GDP eg 2022 OECD statistics UK 36%, NL 38%, Nordics 41-44%, France 46%.
I lived in NL 13 years where taxes were much higher but public services were amazing and day to day life was much easier than UK.
Other countries target wealth much more than UK, I have a low 6 figure income but after pension credits pay approx 15% income tax a year, no wonder nothing works here.
@@alistairrobinson3865 No let's not play the GDP game, when that doesn't translate to GDP per capita i.e. a real measure of wealth per person and how well people are doing.
@@ty194 agree gdp per capita much better measure of wealth, but we are not talking wealth, we are talking taxation and the main benchmark used is tax revenue % gdp.
I’m not suggesting average earners should pay much more tax, more that the loopholes exploited by the wealthy should be closed to bring in more.
@@alistairrobinson3865 But the problem is you're using the GDP argument to make the case for us to be taxed more asserting that we are a low tax country when that's not true. Playing the overall GDP game doesn't give you a true picture as to how highly we're taxed as individuals especially when you factor in indirect taxes. If you did, you will find that we're one of the highest taxed countries in the world outside of complete basket case countries.
We are absolutely not a low tax small state country. I don't know how anyone can come to that conclusion.
Sunak is guilty for the massive increase in debt.
I think that was the pandemic . Has everyone forgotten all those furlough payments ? They have to be funded by - taxpayers !
It seems to me the markets have already been spooked by this government, my pension has lost £10k in the past week.
Can you be more specific (on the date) in regards to [5 mins & 15 secs] "that the current agreement is due to expire in a couple of years" ... would this be for April 2026 ??? ... and do they not have to give any notice whatsoever ? ... or that they can announce it at midnight of the day before implementation ? ???
Wealth tax, tax avoidance definitely.always someone willing to advise if they can make money 😮
How safe is my interest on savings in banks etc, against worsening of tax by the new government
Investor here, we need to pay more tax. Im happy to pay wealth tax if it means the 14000 or so UHNW in uk are doing the same.
Greed is a terrible quality to possess. Let’s just redistribute the wealth so that everyone has enough to live.
Thing with that, commun ism, you give 2 people £1000. One person works hard investing it in a. Business & then in 10 years is a multi millionaire. The 2nd person spends the £1000, has nothing left & lives on benefits....which us paid for by the 1st person....do you really think it's fair to then take half the money the 1st person worked hard for and give it to the one who became a drain on society & never worked?
Just one question when does the 25% tax free lump sum expire you said in a couple of years so would it be around 2026 am 58 thinking of cashing in my final salary pension fund at 60 yrs old .
Plz advice if you can thank you .
How do you sign up for the monthly email?
I missed the article on protecting my wealth from the Conservative government? 😂
Pull down equality. They say we need to be fairer and more equal but they don't raise those worse off up to a higher level, they just pull down the successful
Is the only safe place North Korea now??
Protect your wealth from Labour. Are you really being serious. Over the last 14 years of Tory Government we have seen this country go from around 25 billionaires to somewhere around 175 billionaires, we have seen the super rich get richer and everyone else, yes, everyone else get poorer. The average person is around £11,000 a year worse off. Stop dragging out the bogey man to get your views and come up with something loosely based around truth and reality.
Labour are going to raise taxes and shaft us any way they can … yes, those of us who have saved and invested need to protect what we have from them. The Tories were useless, Labour will be even worse.
That's funny because in the last 14 years I've gone from being single and living on my own renting and barely being able to feed myself, to having a wife (stay at home mother) 3 kids and a house with saving money on the way, while doing house repairs (now looking at extensions to the house). Learnt to drive 11 years ago and have owned 4 cars in that time. 12 years ago, I went to college for 2 years for free as an adult learner. We holiday at centre parks every year, days out throughout the year, gym membership for the whole family, dinners out now and again. And now I'm looking at investing. All on one wage for the house. I'm not self employed and I only work 40-50 hours a week.
Yeah, some bills have gone up and food prices have gone up but considering I've taken on so much more than I had 15 years ago I'm still better off. People just make excuses and most likely pissing their money up the wall, then blame the government.
I think you underestimate how much more getting a better job and sharung costs with your partner improved your living standards. You succeeded in spite of this government, not because of them. @djdusted6485
@aidandesilva I think you missed my point. I'm not sharing costs. We are a one wage household. I support 4 other people, and I'm better off. My wage has not gone up that significantly, but yes, I have changed jobs and career path. I am probably on 10k more than I used to be. In inflation terms, that's sod all. I am looking for promotion in the next few weeks, which may add another 5k.
I came out of school with no gcse's I've never been in a high paid job, this promotion asks for a bachelors degree so could probably consider it as a high paying job if I get it.
14 years? You're forgetting that public voted them in with a landslide 5 years ago so doesn't seem to me that they were out of favour then????