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 […]
Who Needs to Submit a Self-Assessment Tax Return
While this might not be much consolation, HMRC have projected that there will be 32.3 million of us in the UK expected to pay tax in 2020/2021 (based on their Survey of Personal Incomes statistics published by June 2020). However, think about our friends in the US, a summary of the latest IRS data provided by the Tax Foundation […]
5 Benefits to Filing your Tax Return Early
You may not know but a whopping 11.1 million people submitted a tax return in January 2020! 10.4 million of those were online, now that’s a lot of self-assessments to get through. I appreciate that the massive curve ball we’ve been served this year has meant that tax returns might not be at the forefront […]
Paying Taxes on a Child’s YouTube Channel Earnings
Children can earn serious money on YouTube Anyone, can pick up a phone and film something these days. Anyone can then upload these videos to YouTube and start a channel. And anyone can start earning money on YouTube, And when we say anyone, we mean anyone – a significant proportion of YouTubers are children under the age of […]
Tax Overview
“There’s one for you, nineteen for me, ‘cos I’m the taxman” The Beatles, Taxman Developing a Habit of Putting Money Aside to Pay your Taxes The Beatle’s song, ‘Taxman’, might suggest that they were paying 95% tax but fortunately, I don’t think you’ll need to worry about that! However, if you’re newly self-employed or new […]
The Dangers of a Personal Service Company
In a well-publicised case, actor Robert Glenister recently found himself at the end of a lengthy battle with the taxman. In March, after nine years of legal wrangling, an Appeal court upheld a tax tribunal ruling and Robert lost the case. As a result, he’s been presented with a hefty bill for £147,000 plus interest […]
