EP. 118 - Accountant EXPLAINS: How The Wealthy REALLY Pay LESS UK Tax! ft. Zee

This episode is sponsored by Unbiased a platform that connects you easily and quickly with over 27,000 FCA regulated financial advisors, accountants and mortgage brokers.

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Joining us in the booth this week is Zee who is a chartered accountant and EX-KPMG auditor.

In this episode we discuss:

- How Zee became an accountant accidentally

- Why accounting is the plumbing of a business

- Why people on £60,000 are struggling!

- Tips to weather the cost of living crisis

- Why it’s important to engage with your local government

- Possible solutions to the cost of living crisis

- How the wealthy pay less tax!

- What are our taxes used for?

- Is our tax money being used efficiently ?

- How to save taxes with your 9-5?

- The pro’s and con’s of capitalism and much more

Connect with Zee on Instagram here - https://www.instagram.com/thereluctantaccountant

Connect with Zee on TikTok here -https://www.tiktok.com/@thereluctantaccountant

Follow me on: 

• Instagram - https://www.instagram.com/savvywallet
• Tiktok - https://www.tiktok.com/@savvywallet

Check out: https://www.youtube.com/savvywallet for the video version

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TIMESTAMPS

00:00 - Preview

01:13 - Intro

01:48 - Meet Accountant Zee

07:01 - Language is key to getting business done

09:15 - What I learnt from growing up in South London

13:33 - How I became an Accountant (by accident!)

19:33 - Confidence opens doors!

20:28 - Accounting is the plumbing of your business!

22:04 - Don’t take a loan to pay your staff’s wages…!

23:54 - A business can be profitable but go under?!

25:51- This business was taking out loans and saying it was income!

27:38 - Unbiased Ad

28:26 - Why are people on £60,000 struggling?!

33:30 - Is there a way to protect yourself against a financial crisis?

34:43 - Pay lowest interest debt first?

36:25 - Tips to weather the cost of living crisis

37:17 - We should have more empathy for our peers

38:06 - Possible solutions to the cost of living crisis?

38:41 - Opting out from interacting with local government doesn’t serve you!

39:38 - The most revolutionary way to combat the cost of living crisis

44:41 - Knowing the value of things and not the price of things

45:38 - Economic depressions makes us do this…!

47:34 - £54 million spent on a bridge that doesn’t exist..!

49:41 - What is our taxes spent on?

50:45 - inflation causes people to pay more tax

51:34 - How the wealthy pay less taxes…!

57:12 - Is it possible to save taxes like the wealthy?

58:37 - If taxes were used efficiently. What would our lives look like?

01:02:42 - In France, they tell you what your tax is used for!

01:05:34 - Saving taxes with your 9-5

01:08:33 - Pro’s and cons of capitalism

01:17:08 - Final words!

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