Short video by Ndubuisi 'Andy' Egwim explaining that business profits are taxable (HMRC) and describing options to reinvest profits—such as buying equipment, furniture or professional machines—to reduce taxable profit. The speaker uses a personal anecdote about radiology training and conversations with radiologists to illustrate typical professional expenses and decision-making.
Okay. But HMRC would say, hang on, before you invest, let's get our own share. Because if you get a profit, then it's taxable, right? So you can either reinvest it. Reinvesting. If you have to buy a new equipment, let's say you make a profit in a business. I think, well, I'm a radiology consultant. I'm working from home, and now I need to buy a better, more comfortable chair and table. And maybe you need a machine or whatever that radiologist need for their job. I'm not a radiologist. I actually escaped from radiology training at some point eight years ago because I didn't want to stay in the dark room. I like talking to people, but radiology is a wonderful job. Anyway, I. I've been in contact with so many radiologists these days in my one on one session. So.
