Joining us in the booth this week is Benedicta Egbeme, who is a CIMA Qualified Accountant, Management Consultant and Business Finance Coach.

In this episode we discuss:- The income tax allowance- How much you get taxed and at what salary- The UK Tax system incentivising business owners- Government getting rid of the dividend allowance- How employees can reduce their tax liabilities- The impact of the income tax allowance being frozen till 2028- What to do once you've received your tax code- HMRC targeting people with side hustles and much more

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TIMESTAMPS00:00 - Preview01:00 - Intro01:35 - Meet Benedicta the Accountant05:17 - What is the income tax allowance09:13 - This happens if you earn over £100,00011:25 - UK Tax Systems wants everyone one the same level12:24 - Being an employee is a scam….Businesses pay less tax! 18:52 - How to reduce your tax liabilities as an employee…!22:09 - If you earn £100,000 you have to do a self-assessment23:06 - People don’t want to be responsible for their money25:14 - Income tax rate frozen until 2028, how it affects you26:52 - Why is the government getting rid of the dividend allowance?30:12 - The UK has a better system than most…34:45 - Do this once you receive your Tax code….36:36 - HMRC targeting side hustlers…has anything changed…?41:21 -If you don’t pay tax what will happen?45:04 - How to pay your tax bills…!46:32 - How far will HMRC go back with the side hustles49:39 - You live in a country that has allowed you to make money safely…!52:59 - Final wordsLearn more about your ad choices. Visit megaphone.fm/adchoices