Self-employed people and business owners pay far less tax than employees because they can deduct expenses like cars, depreciation, and maintenance before calculating what they owe. An employee earning a pound pays tax on it; a business owner buying a Lamborghini through an LLC can write off the purchase, maintenance, insurance, and depreciation as business expenses.
The only way to get your tax bill down. Do you know that there's only one main way that it's possible to get your tax bill down? And by the way, it's not the government, it's not offshore or schemes or scams or non-domicile or moving to Dubai. That's none of this. The government have said we will reduce taxes when we can afford to. So that will be never. So you certainly can't rely on the government to get your tax bill down, to reduce your taxes, because they're in trillions of debt and they can't afford it. People look at these offshore vehicles or havens or trusts. Most of them don't work. You have to pay massive fees up front. You think you might have saved some tax, and then the government, the HMRC, can come back to you retrospectively. They go back 7 years and you've got to pay all those years in taxes and penalties and interest. Leah said move to Romania with the taste. That's definitely not working out. Um, you know, a lot of people are actually thinking about leaving the UK. I don't blame them, but leaving the country is not really a realistic, productive way, is it, to reduce your tax bill? Because, um, the costs are more expensive over there. You can move to Dubai, there's lower taxes, but everything costs twice as much. So the only one main way to get your tax bill down are you ready? Is to be self-employed or to be an entrepreneur, to be a business person or an investor. So if you are currently employed, then there's nothing wrong with being employed if you've got a job that you love, but the problem is that you pay the government first and then you pay yourself last. So you get what's left and the government take their share first, which when you add it all in, it's about 50%, which is Outrageous. Whereas when you're self-employed or you're an entrepreneur, here's what happens. You draw in your money, you even draw in VAT, you hold that money, and then you can offset certain expenses and you can depreciate certain assets against that to get your profit liability down and your tax liability down. So the only way— forget what everyone else says, the government, the schemes, the scams, the offshores— the only way to get your tax bill down is to at least have a side hustle or a part-time business, if not being an entrepreneur full-time. And there are so many things that you are buying after you've paid tax that you can actually buy before you pay tax. So for example, my Lamborghini Aventador is, what, £320,000 new? And so if I were to buy that after tax, assuming my tax is 50%, that's actually nearly £650,000 in gross money that's cost me to buy that car. But because I can buy the Lamborghini Aventador in an LLP, I can offset the purchase price, the ongoing maintenance, the insurance, the petrol, the depreciation— can all be offset in the LLP company structure. You can't do that in a limited company, by the way. Uh, and so I'm dramatically saving in tax, reducing the corporation tax, and therefore saving a lot of money. And you can do this with your laptop, your iPhone, your AirPods, and most of the things that you buy could be a business expense as long as you can show that you can run them as a business expense. And so really, buying something within a company rather than personally saves you about half the money. That's before you can then depreciate the asset. So look, people think about making more money, but they don't think about reducing their tax. The thing is, when you make a pound, you might net-net make 20 pence because you've got to pay all the taxes and the overheads. But when you save a pound, you save the whole pound. So a lot of people are looking how they can make more money— good plan— but you might get net 20% or 20 pence of that pound. But if you save a pound, you get the whole pound. There's no tax on money that you save. So look, if you'd love to learn how to get your tax bill down and get your earning power up, I brought in my expert accountant who's very expensive, by the way, and he saved me millions in tax. And there is a tax-saving masterclass in rob.team. There's also many masterclasses on making money, on building multiple streams of income, on increasing your earning power, on increasing the amount of income streams that you have, um, becoming an entrepreneur, starting a side hustle, or like me, being a business person and, you know, being self-employed full-time. So if you'd love to learn how to do all this and get all of this content, here's the great news: costs less than 20p a day, you can cancel anytime, there's no ongoing contract, and you can access it all immediately digitally online at rob.team. So you just open up a new web page right now and just type in Rob.team. Rob.team. Go join right now, less than 20p a day, cancel anytime, hundreds of hours of courses, resources, and masterclasses. We've got 17 business and finance tips learned in 17 years in business, which is just about to go live on Rob.team. I've got this tax saving masterclass, got multiple streams of Income Masterclass, Increasing Your Earning Power Masterclass, money-saving tips, money-making tips, hundreds of hours of content. John's put the link in. Just go and open up a new web page and type in rob.team, because here's the thing: there's only one way to get your tax bill down. It's not the government, it's not tax havens, it's not schemes, it's not moving abroad, it's not offshore trusts, a lot of that ends up backfiring on you. What will work is being an entrepreneur, having a side hustle part-time or full-time, and owning a business and knowing what you can offset. And then when you go from business person to investor, then there are even more tax breaks as an investor, which we can share with you because in Rob.team there's a 9-module, 10-hour masterclass on how to invest. So if you'd like to get all of this, no ongoing contract, less than 20p a day, join Rob.team. Just type in rob.team. I'll see you in the members area. Look, tax is your biggest expense by a long way. You know, you might think your mortgage or your car or your house is your biggest expense. It's not, not by a million miles. Your biggest single expense is tax, so you've got to get it down, and the government aren't going to help you. So thanks for tuning in. I'll see you in rob.team, and remember, if you don't risk anything, you risk everything.
