The 3 WORST Taxes (& How to Avoid Them)

The 3 worst taxes. Labour, if you're listening, sort these out if you actually want the economy to grow. I'm going to share what are maybe the 3 worst taxes and how you can reduce or even get rid of most or many of them. Now, this was difficult. I was going to do the worst tax, and then I was like, well, they're all bad. Then I just realized that they're all kind of penal, really. But actually, here are what I believe to be probably the 3 worst ones. So the first one is corporation tax, and I was weighing up between corporation tax and National Insurance. National Insurance penalizes employment. The higher National Insurance is, which is an employment tax, the least less likely that companies are to hire. So unemployment— I think I just swallowed a fly— protein— unemployment's gone up a lot, mostly because of the rise in National Insurance. So that's obviously bad, but I believe the corporation tax is worse because you penalize a company for growing. Now, if, uh, Labour, if you're watching, If corporation tax were reduced, which it actually was temporarily a few years ago, then companies could retain more of their profits. Then they would reinvest back in their company to grow because it would incentivize them, because they would gain more profits because they're keeping more profits. And obviously, if a company reinvested in itself, it's clearly going to invest in hiring people. So I would suggest that probably the most penal tax for employment and for growth is corporation tax because it penalises companies from employing and growing and investing in this country. The second maybe most worst or penalising tax is VAT. Now I did think about income tax but actually out of all the taxes taxes, one that maybe is fair that we pay is income tax. We receive our money and we share some of it into the services that we get a benefit from. So I probably, I mean, I hate income tax because of how high it is, but I don't think it's the most unfair. But VAT is a sales tax that's added on top of everything you buy, but you've already paid tax on what you earn and now you're paying tax on what you spend. So it's a double tax. It's actually a triple tax as well because they charge it to overseas investors. Now overseas buyers could come in— do you remember Bicester and all the Japanese people that would come to the UK? They would be able to reclaim back the VAT, which to me feels fair because they're not in this country, so why should they pay tax in this country? And in our infinite wisdom, the Conservatives got rid of Saving the VAT, and now all of a sudden no one overseas really comes in the UK to shop because it's too expensive. So we lose all this because, you know, when someone from abroad comes into the UK and shops, they buy things, they also go to coffee shops, um, you know, they invest in the local economy. So when you've already paid tax on what you earn, to then pay tax on what you spend, um, and to penalize people coming into the UK to spend money here That seems absolutely ridiculous. So corporation tax is bad because it stunts company growth and employment. VAT is bad because you've already paid tax on what you earn, so why should you pay tax on what you spend? And it stopped a load of foreign spending and investment and travel over here. Okay, and the third worst kind of tax, and maybe you could argue that others are worse, let me know. I was thinking inheritance tax feels really awful, you know, to basically penalize the next generation. And look at all these farmers you know, who are really stuck now with these changes in inheritance tax. However, only 4% of people pay inheritance tax, so I'm going to leave that one. But the third worst one, it seems, is capital gains tax. Why? Because surely you want to be encouraged to invest, and when you invest and you pay up to 28% in capital gains tax, then that's a big penalty for investing. Remember I said I'm going to help you solve these tax issues in a moment. So at the moment we've got no growth in the UK and we need growth and we want growth. So why are we penalising people up to 28% for investing money? Surely you want to incentivise us to invest, do you not? So capital gains tax got really high. I would say that's one of the most penal. Right, here are the solutions for corporation tax. Well, number one, you have to start a company. To have a corporation tax, so start a company, but you can offset expenses against your business. So you could have business trips and business meetings, your hardware and software and your subscriptions. A lot of things that you're currently paying for personally could be paid for by the company, and that can reduce your corporation tax. The second thing, VAT, is when you're a company, you can reclaim VAT. You still have to charge it, so it still has to get added on, but it's the buyer that pays that, not you the seller. But then once you're VAT registered, you can claim back the VAT on all the things that you buy in the company. It won't get rid of all of the VAT, but it will get rid of some of the VAT. And you'll notice the two common threads in what I've just said there is you need to own a company, um, you need to start your side hustle, you need to launch your business. Um, even if it's just on the side, even if it's just online information. And then the third tax, um, capital gains tax. Well, if you never sell, you never pay capital gains tax. And what a lot of billionaires and big-time investors do is they own assets and they just keep them forever. Um, and you only pay capital gains tax on when, when you sell. Currently, by the way, because they are looking at chipping away at wealth tax or chipping away at assets that haven't been materialized. That is such a far-left regime. It's almost communism, just taking assets off people. So I would definitely bugger off to Dubai if they did that. But anyway, but you know, if you just buy assets, BHD, buy, hold, die, then you never pay tax on the gains. So look, I run an event called Moneymaker Summit, and I used to just teach people about making money because it's called Money Maker Summit. You've got multiple streams of income, um, get your, um, business launched, start it and scale it, learn how to invest, etc. And all that content is still there, but in light of what's going on with all these tax increases and how difficult the world has become and how penal the governments and the banks are, we've now added new talks in on how to invest, not just how to protect your money from inflation not just only how to have assets, but also how to reduce your capital gains tax. We've got new masterclass sections now within the Moneymaker Summit, not just on starting and scaling your business, but how to claim all the tax breaks and reliefs, how to get your tax bill down. This is probably nearly a 2-hour section that we do privately. You have to put your phone on airplane mode. These sections have now been added in to the Moneymaker Summit because of how high taxes are, how difficult it is to retain all of your money. And you need to really think carefully now about what business you launch and what assets you invest in, and not just think about making money, but thinking about not giving most of it away in tax. So you have to be more strategic now, and you have to know what's out there, and you have to have a good tax accountant, and you have to get good training. And that's why we have the special event called the Moneymaker Summit. So if you want the proven ways to make, manage, and multiply money, but you also want the new ways to get your tax bill down, to leverage AI, to know what asset classes to invest in, to know what all those tax breaks are, to change the way you approach money so you can keep most of what you earn, come to the Money Maker Summit. So the link is robmoore.live. Www.robmoore.live/mms, which stands for Money Maker Summit. I think we've got just 2 date choices. We run them in our training academy mostly. There is one London date, I think. But in our training academy, I can pass all the savings on to you because I own the building. We bought it no money down more than a decade ago. That's why there's a small number of sponsored tickets I do each event, so you could actually claim one of those. The sponsored tickets are for people who are really hard up, really struggling financially, and need a bit of a break and support and a kickstart. And you can go to robmoore.life/mms and you can potentially grab one of those sponsored tickets. I offer about 20 per event, so they may have gone. But you'll also see on the page, and then once you put your details in, there's just for very small upgrades, there's these golden VIP tickets that I'm offering. And we've got a lot of exciting things going on right now. It's just about our 20th anniversary in business. It's just about my 10th anniversary with the Disruptor Show. So what I'm doing is I'm offering these golden VIP tickets at 90% plus discounts. Remember, I own the training facilities. So I can basically pass those costs on to you. Cost me about what, 35 to 40 grand to run an event in London? Cost me 1/10 of that to run it in my own buildings. So for just literally what I spend on coffee in what, 12 days, you can get golden VIP upgraded tickets. You can meet the 7, 8, and 9-figure entrepreneurs. You can get bonus money mindset sessions in the morning. You can actually have lunch with me if you're one of the first 20 in my boardroom. And I'll pay for the lunch. You can have dinner with me and my 8-figure entrepreneurs. You have to just cover the small dinner costs, and that's, there's about 30 of us that have the dinner. There's also the 15-hour online how to raise money masterclass. So there's a lot. So it's all at robmoore.live/mms. Tax is now your biggest expense. It probably costs you more than a divorce. It probably costs you more than your mortgage. It probably costs you more than anything. Apparently rent is about 31% of people's earnings, but tax will be more than half of your earnings. So tax is your biggest expense by a long, long, long way. And that's why in the Moneymaker Summit We've created this new private session where we teach you the 12 main ways to get your tax bill down, and we teach you some of the basic things that you can do that are actually really easy to do. It's just that the tax code is 17,000 pages and it just overwhelms and confuses, and you know, they say bullshit baffles brains. Natasha has said that the Moneymaker Summit is definitely an event she would recommend. It's great for networking and also great to meet me live in person, appreciate that. So I'm not sure how long I'll be able to do this section on getting your tax bill down. One, because they change all the time, and two, because the government is a bit strange because they want you to take these tax breaks to launch your businesses to help the economy, but then they kind of don't want you to take these tax breaks because they want all your money. So it's a bit of a weird one, and I'm not sure how long we'll be able to share all that content. So Rob Moore.live www.matt-cooper.com/mms. And I believe maybe the 3 worst taxes are corporation tax because it limits growth of companies and employment, VAT because you're already taxed on what you earn, why are you taxed on what you spend? And it's stopping all the overseas money coming in and buying things which we need to grow the economy. And then the third one, capital gains tax, why are we paying 28% on our assets? And the ways to get those tax bill downs those tax bills down and all the other taxes you're paying, come to the Money Maker Summit, robmoore.life/mms. If you've watched me walking around on all these videos day after day after day, when are we gonna meet? When am I gonna be able to sign your book? When are we gonna be able to sort of connect privately, possibly do business together? When am I gonna be able to teach you all the detailed stuff that I know? Being an entrepreneur for, what, 20 years in a few months' time. Thanks for tuning in. See you at the Moneymaker Summit, robmoore.live/mms.