Growing a Business Got 10x Harder (Viral Accountant Explains)

Self-employment in the UK has never been harder. Accountant Rachel Harris (@accountant_she), one of the most followed accountants on Instagram, joins James Smith to explain why growing a business got 10x harder: UK tax, business expenses, the tax bands, child benefit over £100K, and why taxing the rich makes them leave. Being self-employed in the UK is no longer as necessary as it once was. Rachel Harris explains why the landscape has shifted. Rachel Harris, one of the most followed accountants on Instagram, joins the show to discuss the current reality of business ownership. She contrasts the significant benefits of the past with the modern environment, where the system makes starting a company easier than ever, but feeling like you are winning is increasingly difficult. In this episode: - Why financial education fails in the UK - Why business expenses are really half price - Tax relief for businesses vs families, and the 2.5% mortgage deposit scheme - Reverse-engineering your dream life and how to KPI yourself (£12,400 a month) - Building wealth: mortgage vs stocks vs business 👁️ Try Neutonic: https://www.neutonic.com/jamessmith 🤼‍♂️ Wear Adapt BJJ: https://adaptjj.com/ 📝 Business Mentoring: https://www.jamessmith.business Rachel's Online Courses: https://www.accountantshe.com/courses/ Rachel's YouTube Channel: https://www.youtube.com/accountant_she Follow Rachel on Instagram: https://www.instagram.com/accountant_she Chapters: 00:00 Intro 01:39 Why Financial Education Fails in the UK 04:20 Hidden Benefits of Being Self-Employed 06:46 Tax Relief: Businesses vs Families 10:09 Gifted Trips & Influencer Tax Rules 12:31 Why Business Expenses Are Half Price 15:09 Should Voting Need a Test? 17:10 The 2.5% Mortgage Deposit Scheme 19:58 Tax the Rich and They Leave 21:37 Run the UK Like a Business 24:44 Child Benefit Over £100K 28:14 Would You Pay 45% Tax? 30:20 UK Tax Bands Are Too Close 32:39 Abundance vs Scarcity Mindset 34:49 Reverse-Engineer Your Dream Life 37:03 The Money Goal That Matters Most 40:19 How to KPI Your Life (£12,400 a Month) 44:05 Your Perfect Repeatable Day 45:56 The Quality of Life Audit 47:41 Paying $2.5M Tax Without Resentment 49:21 Why Charging for a Course Works 51:06 Mortgage vs Stocks vs Business 52:20 Rich Dad Poor Dad & Risk Profile 56:52 Buying Your Dream Car 01:01:09 The ROI of Joy 01:06:17 Flying Business Class 01:08:12 Champion Your Friends' Success Learn more about your ad choices. Visit megaphone.fm/adchoices