Your Accountant

Moving to Dubai doesn’t magically switch off UK tax. I’ve had to step in for far too many people who moved on bad (or no) advice, with zero planning and ended up with six-figure UK tax bills in year one. Wrong advice. Wrong assumptions. Very expensive mistakes. Geography ≠ tax planning.

Say a creator earns £40,000 from their channel in a year. Fine. Basic rate. Then a £30,000 brand deal lands in March. That £30,000 doesn't sit in its own box. It stacks on top. Now they're at £70,000, with £19,730 taxed at 40% instead of 20%. The deal was worth £30,000. The tax bill on that deal was nothing like what they expected.

@Ub2bbs I’ve DMd you

@TJiMTS The firm that I work with have 500+ clients Probably could do something there 🤔

You use Claude, I use Claude... We are not the same

HMRC doesn't tax you when you withdraw your USD earnings. They tax you on the exchange rate the day you received them. I see this catch creators out constantly. They get paid by Google in August at £1 = $1.28, then transfer the money in November when the rate has moved. They report what they received in sterling after the transfer. That's wrong. HMRC wants the GBP value on the date of receipt, using the rate at that point. If the rate moved against you between receipt and transfer, you're still reporting the higher figure.

Yes but: 1. Need's HMRC approval to be able to submit VAT returns, it is essentially useless until you obtain that. 2. BY FAR the hardest thing I've built. Very very complicated software with so many layers. 3. You need to spend a lot of money and/or time stress testing the security, given the nature of the data inside it. If you have a lot of clients it's an incredible investment, if you only have a few just stick with Xero

@TJiMTS You are basically saying I can build my own Xero like software and offer that to clients?

@Ub2bbs Every single thing you have on subscription, rebuild it from scratch. Wrestle with the bugs for a few months and you end up with a perfectly customised software that is free for life

@TJiMTS I do use codex but like a newbie! What are you using it for ? Any advise for a fellow accountant ?

Friendly reminder that AI will never be worse than it is right now. If you assume any rate of improvement over any reasonable period - learning how to use it becomes your #1 priority.

Claude is way better than ChatGPT. It’s not even close.

@damiiism I dont use it uno

@TJiMTS How are you finding cowork?

If you look at the persons photo you wouldn't believe it's not them speaking

Messi has just scored his 900th goal! #messi

@bobolaakinola Max of course

@TJiMTS Pro or Max?

The EU just proposed EU Inc. One company structure. 27 countries. Under €100. Under 48 hours. No minimum capital. Fully online. Stock options taxed when employees sell, not when granted. Share transfers without mandatory intermediaries. They're building a European Delaware C-Corp. Will it work? The EU tried this in 2004 (Societas Europaea) and it flopped. Parliament still needs to agree. Target is 2028. But here's what's interesting as a UK founder looking in from the outside: If this works, an EU founder can set up, hire cross-border with standardised stock options, and raise through one framework. A UK founder expanding into Europe? Still incorporating locally in each country. Companies House is genuinely good. But if the EU matches UK speed AND adds cross-border mobility? That's a gap we need to answer.

@Ub2bbs Everything I have another £1k on Codex too loool

@TJiMTS What are you doing on Claude bro?

In the midst of this horrible war, energy crisis etc, don’t forget there’s a pedophile ring among the elites, potentially including the US president, all evidenced and with the relevant authorities that has been suppressed for years and continues to be so Can’t distract me

@Deji_Best That would be the cost if I used API instead of subscription

@TJiMTS You’ve spent $3k this month on it???

My life cycle atm: -Spend all night/early morning bookmarking interesting claude/openclaw/AI things -Spend all day implementing the bookmarks

No Men used to build houses

AI is supposed to save me time, but now I find myself building stuff all evening and weekend and it's actually increasing my time in front of the computer WTF

@xela19721 @robprogressive But then point 3 wouldn't make sense Strange wording whatever the case!

@TJiMTS @robprogressive Can't be. 1. Buy a property. 2 "find" a property to renovate. There are two properties, surely.

£100k Tax Loophole the Govt. Actually Want You to Use 1: Buy a local house in your name as your sole primary residence 2: Find a property that needs a renovation & buy it much cheaper 3: Do it up while living in it at the speed you can really afford 4: Sell it in 12–24 months for £50k-to- £100k profit 5: Pay no Capital Gains Tax as your sole residence 6: Invest the £100k profits in controlling 10 properties that make £10k/year each