Keeping it in the Family: Inheritance Tax Mitigation for Non-UK Domiciled Individuals
For non-UK domiciled individuals (non-doms) with significant assets, inheritance tax (IHT) planning becomes a crucial aspect of wealth preservation. Inheritance tax has always been a hot topic politically, so keep an eye out for proposals to change IHT in an election year. Right now, the UK has an IHT rate of 40% on estates exceeding […]
Keeping Ahead of the Trends on Tax on Image Rights Income for Models
For those working as models or content creators in the fashion industry, it is, of course, all about the image and image rights income can be a vital component of a model’s revenue. Earnings for a model can come from a number of sources and can vary significantly depending on several factors: Experience and reputation: […]
What the Creative Industries Need to Know About the VAT Threshold Changes in the Budget
The dust, such as it was, has settled on the 2024 Spring Budget, and for many self-employed individuals and small businesses (SMEs), one key, and low-key, announcement was an increase in the VAT registration threshold. There’s a few things to think about: Value Added Tax (VAT) is a tax levied on most goods and services […]
Decoding the Double Life of Ad Revenue: Tax and Regulation for Influencers
Influencers have a variety of income sources, but advertising, affiliate and sponsorship revenue can attract different tax regulations. And that’s just the start of it. For influencers, ad revenue is the lifeblood of their careers. However, this seemingly straightforward income stream gets surprisingly complex when it comes to taxes and regulations. Here’s why navigating the […]
How Research for your Book can Unearth Tax Relief
The idea of ‘research tax credits’ always conjure up and image of science – whether that’s blindingly white laboratories or AI-driven software – both driving our future. But authors drive our imagination and they too need research to help then understand the worlds they are describing – whether they be real worlds in need of […]
The Realities of Tax Compliance for Influencers
While being a professional influencer is the kind of job that no-one would have thought of a decade ago, the realities of legal and tax compliance of that industry are the same as for the rest of us. You may be concentrating on growing audiences and building relationships with brands and sponsors, but behind all […]
Taxes on Authors’ Prizes Can Be a Lottery
It’s probably not a plot twist that you’re going to like. Quite simply, it doesn’t seem fair… But let’s take you through two prize scenarios. In the first, you wander into your local newsagent and, on a whim, you buy a lottery ticket. You may forget about it and not check the numbers – whatever […]
Can you Make It Work as a Freelance Model
As we look around the office, it’s a question we often ask of ourselves… Can I throw this all off and be a freelance model? Many of those in the modelling world are attached to an agency and are paid through them. This makes it more likely that income is steady and that tax and […]
There’s No ‘Vinted tax’ But Side Hustles Can Generate Tax Issues
For many performers, there’s always a side hustle that gets you through the gaps between projects or just tops an income up. It’s always been the way – it might have been working behind a bar or in a restaurant in times past (with your CV or script kept handy in case Scorsese pops in). […]
Navigating Tax Matters: A Guide for Actors and Actresses in the UK
Being in the spotlight as an actor or actress comes with its own set of challenges and opportunities, including the intricate world of taxes. Understanding the tax landscape is crucial to ensure your financial well-being and compliance with the law. In this blog, we’ll walk you through the essentials of taxes in the UK, tailored […]
