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Shiraz Waheed - SetupHero
United Arab Emirates
Приєднався 22 січ 2022
Welcome to my UA-cam channel! I'm Shiraz Waheed, a Dubai based Management Consultant with expertise in UAE Business, Banking and Taxation.
On this channel, I share valuable insights and experiences to navigate Dubai's dynamic business environment and how to use it to you advantage for optimizing your personal and business taxes.
Book a call today!👇
setuphero.com/call
On this channel, I share valuable insights and experiences to navigate Dubai's dynamic business environment and how to use it to you advantage for optimizing your personal and business taxes.
Book a call today!👇
setuphero.com/call
How to Use the Split-Year Treatment When Moving Out of the UK
✅ Book 1-on-1 Call setuphero.com/call
How to Use the Split-Year Treatment When Moving Out of the UK
In this video, I explain how a tax year looks in Dubai and what you need to know if you’re living or working there.
I cover the basics of Dubai’s tax system, including how it compares to other countries and the unique aspects of Dubai’s tax year structure.
You’ll learn about Dubai’s tax policies, who is eligible for tax obligations, and how the tax year impacts residents and non-residents.
By the end of this video, you’ll have a clear understanding of Dubai’s tax year and how it affects financial planning for individuals and businesses.
✅ 𝐈𝐟 𝐲𝐨𝐮 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬 𝐯𝐢𝐝𝐞𝐨, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐥𝐢𝐤𝐞 𝐢𝐭 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞 𝐢𝐭.
✅ 𝐃𝐨𝐧'𝐭 𝐟𝐨𝐫𝐠𝐞𝐭 𝐭𝐨 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐦𝐲 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐬.
ua-cam.com/channels/_5q664PQaCnbFrCqs4wRJw.html
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2. ua-cam.com/video/kKeO7BrTrpE/v-deo.html
3. ua-cam.com/video/XzSnNLovVn4/v-deo.html
🔎Hashtags:
Timestamp
00:00 - Introduction
00:02 - Common questions about leaving the UK before the tax year ends
00:36 - Why split-year treatment can help you exit UK tax earlier
01:06 - Brief break / Transition
01:10 - Overview of split-year treatment & today’s topic
01:33 - Introducing Laura Sant (LSR Partners)
02:22 - How the Statutory Residence Test works
03:06 - What split-year treatment actually means
04:16 - The three main cases for split-year treatment
05:25 - Case 1 explained: Full-time work outside the UK
07:14 - Case 2 explained: Partner of someone working full-time overseas
08:31 - Case 3 explained: Ceasing to have a UK home
10:20 - Reporting requirements & how to notify HMRC
12:18 - Comparing split-year vs. full tax-year exit
13:56 - Dividends from a UK Limited Company under split-year
16:40 - Liquidating a UK Limited Company when leaving
19:00 - Common misconceptions about split-year treatment
#paylesstaxes
#dubai
#movingtodubai
#dubaitaxes
#dubaigoldenvisa
#SetupHero
Also Discussed in this video:
llc,limited liability company,taxes in usa,usa taxes,how to pay less taxes in usa,taxes,income taxes in usa,income tax,tax,taxes in america,income tax explained,taxes explained,us taxes,us taxation,us tax system explained,irs,taxes in us explained,us income tax explained,types of taxes,understanding us tax system,types of tax,taxes in the us,different types of taxes,tax system in usa explained,how to start an llc,how to form an llc,single member llc, business in dubai, taxes in dubai
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. SetupHero can and does not provide advice unless/until engaged by you
How to Use the Split-Year Treatment When Moving Out of the UK
In this video, I explain how a tax year looks in Dubai and what you need to know if you’re living or working there.
I cover the basics of Dubai’s tax system, including how it compares to other countries and the unique aspects of Dubai’s tax year structure.
You’ll learn about Dubai’s tax policies, who is eligible for tax obligations, and how the tax year impacts residents and non-residents.
By the end of this video, you’ll have a clear understanding of Dubai’s tax year and how it affects financial planning for individuals and businesses.
✅ 𝐈𝐟 𝐲𝐨𝐮 𝐥𝐢𝐤𝐞 𝐭𝐡𝐢𝐬 𝐯𝐢𝐝𝐞𝐨, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐥𝐢𝐤𝐞 𝐢𝐭 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞 𝐢𝐭.
✅ 𝐃𝐨𝐧'𝐭 𝐟𝐨𝐫𝐠𝐞𝐭 𝐭𝐨 𝐬𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 𝐭𝐨 𝐦𝐲 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐦𝐨𝐫𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐬.
ua-cam.com/channels/_5q664PQaCnbFrCqs4wRJw.html
Suggested videos for you:
1. ua-cam.com/video/2e5YA9DK75o/v-deo.html
2. ua-cam.com/video/kKeO7BrTrpE/v-deo.html
3. ua-cam.com/video/XzSnNLovVn4/v-deo.html
🔎Hashtags:
Timestamp
00:00 - Introduction
00:02 - Common questions about leaving the UK before the tax year ends
00:36 - Why split-year treatment can help you exit UK tax earlier
01:06 - Brief break / Transition
01:10 - Overview of split-year treatment & today’s topic
01:33 - Introducing Laura Sant (LSR Partners)
02:22 - How the Statutory Residence Test works
03:06 - What split-year treatment actually means
04:16 - The three main cases for split-year treatment
05:25 - Case 1 explained: Full-time work outside the UK
07:14 - Case 2 explained: Partner of someone working full-time overseas
08:31 - Case 3 explained: Ceasing to have a UK home
10:20 - Reporting requirements & how to notify HMRC
12:18 - Comparing split-year vs. full tax-year exit
13:56 - Dividends from a UK Limited Company under split-year
16:40 - Liquidating a UK Limited Company when leaving
19:00 - Common misconceptions about split-year treatment
#paylesstaxes
#dubai
#movingtodubai
#dubaitaxes
#dubaigoldenvisa
#SetupHero
Also Discussed in this video:
llc,limited liability company,taxes in usa,usa taxes,how to pay less taxes in usa,taxes,income taxes in usa,income tax,tax,taxes in america,income tax explained,taxes explained,us taxes,us taxation,us tax system explained,irs,taxes in us explained,us income tax explained,types of taxes,understanding us tax system,types of tax,taxes in the us,different types of taxes,tax system in usa explained,how to start an llc,how to form an llc,single member llc, business in dubai, taxes in dubai
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. SetupHero can and does not provide advice unless/until engaged by you
Переглядів: 73
Відео
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Reform party for the UK 👍🏽
✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/+971569251187
Your expert said you need to pay capital gains on shares as a non-resident. That is incorrect. I really wouldn’t want to be spending money with his firm.
Thanks very much very informative 🎉😊
Crypto in gambling and there should not be any tax on it.
This cool... Make money and pay no tax, yet appeal for protection if attacked... Moan about the government yet pay nothing..... Cool eh 🙃
Why does the uk tax people on everything, even death, and why would someone rich live in the uk
This was a useless video...actually never told us anything useful!!!
I know people who paid Nakheel the state developer TWENTY years ago. To this day, in 2024 they have still have no property, no refund, no compensation. Nakheel even made an offer in 2024 then rescinded it. They try and bully and gag and send shady looking contractswithout even promising a date of refund. Apparently 75% o off plan property is NEVER built. And the state developers like Nakheel are as bad as anyone. it is criminality, pure and simple. They pretend they have no money to build, then they build the tallest towers in the World with YOUR money. ANd people get terrorised by Dubai banks (who even mislead Interpol to terrorise you) to pay for properties that were never built and never will be. Avoid this scam capital of the World!
UK Highway Robbery Department
I know with the golden visa you have the freedom to come and go without spending the usual compulsory 6 months, but If I'm coming from Australia and classed as a non tax payer of Australia, and Dubai being now my home...will the Australian government give me any problems if I decide after a month in Dubai I want to travel the world (not Australia) like Europe say?
You will pay Australian taxes on overseas earnings IF the ATO determin you are a resident. Your residency is determined by considering all the relevant facts and circumstances. No single factor is likely to be decisive, and many will be interrelated. We may take into account any or all of the following factors in determining where you reside: period of physical presence in Australia intention or purpose of presence behaviour while in Australia family and business or employment ties maintenance and location of assets social and living arrangements.
Don't let them tax you on so-called climate change, its a massive scam... It a natural occurrence not man-made...
Universal principal for people with any integrity: If you try to avoid taxes you don’t deserve to benefit from the lifestyle, community, defence, infrastructure etc. in the country that the taxes pay for. It’s a social contract.
You cannot actually avoid taxes, as far as the UK is concerned. Yes you may pay less tax on you're earned income, but you still end up paying taxes on items you purchase. Remember a successful economy is where people are constantly spending.
@Handler9985 tricky down economics really doesn't work, unless the trickle down is into the communities of monte carlo, the Cayman islands, Jersey, etc.
Leave then !! B4 robbed with the other 10,million...don't own anything in own name in uk...stay out uk ....Sack uk...it can be done.. we don't work...we invest, we don't want a job, it doesn't pay
Ok quick question… what if I sell my crypto but keep it on the exchange and NOT move it into a British bank? I’ve got a Coinbase debit card, so there is no requirement for me to move it from the exchange
Can someone help me plz, im skint been in crypto like 8 week, made a ridiculous amount of changes to my crypto with about 5 wallets i wouldnt knjw where to start and cabt afford an accountant, iv not cashed out any and not sure even if made over 3k yet, can anyone please give some advice? Also do kyc give ya info to hmrc?
As a uk resident if your crypto wallet is registered in another country set up an offshore bank account and pay funds from your wallet to the offshore account......The profits were not made in the uk and not paid into the uk so therefore no CGT
Having lived in the UK all of my life and paid into the tax system, I have decided that enough is enough! If you’re living in the UK you are quite simply a SLAVE! I am leaving and taking all of my business overseas. Good luck to the UK government trying to resolve the civil war that’s about to come’ people have had enough!
Having lived in the UK all of my life and paid into the tax system, I have decided that enough is enough! If you’re living in the UK you are quite simply a SLAVE! I am leaving and taking all of my business overseas. Good luck to the UK government trying to resolve the civil war that’s about to come’ people have had enough!
Question - if i gift my wife crypto as a gift, can I give it to her in closed trade fiat form or does it have to be crypto for one wallet to another & when she converts that crypto to fiat will she then be taxed on? that?
If I become rich for any reason, I'm out of England. England and the English is being destroyed by government.
The UK government have it completely covered so you have to jump through unrealistic and stupid hoops to avoid paying this unethical tax. Shame they’ll just use the money they steal from you to fund wars around the world.
Shit questions only applying to foreign grifters
We risk our money that has already been taxed and they want more if we win? Well they can F*** O**
Dubai Muslim country?very dangerous in near future because of their disguise of wolf in sheep skin.
ATO is not very clear about how to prove you area Non Resident for Tax purposes
Wealthy Arab countries do not give PR even if you are a Muslim, Golden Visa is not PR , forget Citizenship
Easier said than done ATO is very smart and not everybody can shift to UAE and UAE is expensive also
Not as expensive as Australia.
Aevo 🚀🚀🎉
I want to open business in Sharjah media zone, but If first year my business income is less than 50k aed, do I need to do auditing? and which software will I need to take in consideration for maintaining account
Complex
✅ Book 1-on-1 Call setuphero.com/call ✅ Whatsapp Me - wa.me/+971569251187
Either way they steal your money, gangster number one
What a rubbish video
I still think it’s BS that you have to pay capital gains tax when you have already been taxed on the money you have invested. Like WTF!!!
On your website you claim "zero-tax status", but how do you circumvent the 9% corporate tax in Dubai?
So Uk Crypto investors along with property owners, small business owners and anyone else who has strived to do better are all screwed!
We take all the Risks they Take The tax,???
🙄🙄🙄 s
✅ Whatsapp Me - wa.me/+971569251187 ✅ Book 1-on-1 Call setuphero.com/call
At this v moment they’re literally sitting around a table somewhere tryna figure out how to tax the air we breath.
We can only hope Farage gets in next and follows Trumps Crypto policies.
Oh for sure, and you'll pay more or less for the air quality as well 😏
Clean air zones 😂
Within no time they’ll tell you it’s running out so the prices need to go up.
@@stevenward4344 have you seen The Lorax? It's a kids movie but in it the guy who runs the town, O'Hare charges for bottled air. Reminds me of what they are trying to do now
You can't avoid it legally. That is the answer. Accept that any money earned will be taxed upon cashing out. There are ways to spread the money out between family members as you get 3k before taxation starts.
I'm panicking new to crypto like 8 weeks , I wouldn't know where to start iv had about 5 wallets made a ridiculous amount of changes to my crypto , can't afford an accountant, don't even know if iv made 3 k profit at this point, don't suppose u can swing any advise my way? Iv never cashed out any
@Kirkscrustykippers you will have to check your tax laws. You could be allowed an allowance before tax is paid. Then check your total account trades to work out your gains. In uk you can do a self assessment tax form before 31st of January.
I am non dom for UK tax, I do have overseas banking, but how do I stand if I want to send crypto to my UK bank account, rather than a suitcase of beer tokens through customs? I can get letters from overseas authorities, but it's a time-consuming solution, accompanied by some notes slippin' under the table. Suffice to say, legally I should be OK, but I would still rather be a grey man so to speak. Strange how they claim crypto is used for money laundering, even though it is more traceable than cash transactions. We all know who the real criminals and money launderers are!
Point to note, all but about 7 counties are CRS (Common Reporting Standard) compliant, even Switzerland. Laos is one of the 7 whoa re not and they do have non KYC wallets. It needs looking into if they are trustworthy. A lot of counties are being coerced for fear of being grey listed to be complaint.
So the uk makes it too hard to avoid, so, might as well take it on the chin
Can you borrow against your crypto assets if so when you borrow against the assets it's a debt so would it reduce or remove tax altogether
Just take loan out against crypto... aave or nexo... no tax on loan income
Not useful. Title was how to avoid paying tax on crypto in the UK. So run that past me again. How do you avoid it? Went all around the houses talking about domicile and what's classed as being outside or inside uk. Getting back to your own title, where was the bit on how to avoid? Nowhere. Not helpful at all. Next time, just call it 'crypto tax for those who decide to move out of UK '. Very misleading title. Clickbait
So what about paying of a loan? There are exchanges that allow you to borrow (either loan or credit card) with your Crypto as collateral, and you can pay the loan in Crypto. Is that a non-taxable event?
I believe if you pay the loan with crypto, that would be a taxable event and would be considered a sale of the asset. Are you referring to Nexo? Ive been very happy with them for the last couple of years I've used them and have used the loan facility many times. I'm currently heavily paying off the loans that I've built up but the loan to asset value is under 20% so I am paying 2.9% interest
I'm not that arsed about paying the CGT when the time comes. I just wonder how I'm going to withdraw millions into a bank account without the bank freezing my account. You'd think they'd be happy to take that amount of money, even if it's been generated through crypto but they're not.
Government are the biggest conmen.