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Author Topic : Need tax advice!!! 
Aberfan

Thread Starter / Model
City: Peterborough
Country: United Kingdom
Member Since: Oct 15, 2018
Posts: 1
Views : 435  Oct 16, 2018 10:22am

Hi!

I've been modelling on and off for the last few months and decided I know what I want to do, got some idea how I can get there, and can't wait to get started! However I've put it on hold after a comment from a photographer I was shooting with - when they sent me my pay for the shoot, they asked whether I was registered with HMRC which I thought was a bit odd. I didn't know you had to register and tell them to tax me! I might just be being overly paranoid but I'm starting to expect a knock on my door from some suits asking for money! I've had a look at a tax calculator I found and think I know what I need to pay but how do I do that? Where do I need to go to 'register' with HMRC? I already have a job and was told they pay me by PAYE so I don't need to do anything. Will registering affect that?

Sorry for the wall of questions! Hope to hear from someone soon

Thanks!

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redbaron

Photographer
City: Ayesbury
Country: United Kingdom
Member Since: Nov 15, 2017
Posts: 29
RE: Need tax advice!!! Oct 16, 2018 12:19pm

You do have to notify the tax office id you are doing self employed work as you will need to fill out a yearly self assesment tax form for it. It is hardly a big thing though. Just a phone call and they will send all the information you need through the post.

Or you can check out if you come under it and notify them by going to https://www.gov.uk/working-for-yourself

You do not need to inform your current company about the self employement work, That all gets sorted out on the self assesment form

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 jkmtyro



Photographer
City: St. Thomas, Virgin Islands
Country: Virgin Islands
Member Since: Mar 13, 2005
Posts: 1089
RE: Need tax advice!!! Oct 17, 2018 1:27pm

quoting post from redbaron:

You do have to notify the tax office id you are doing self employed work as you will need to fill out a yearly self assesment tax form for it. It is hardly a big thing though. Just a phone call and they will send all the information you need through the post.

For everyone on NM, this is solid advice, no matter your country of business. The cliche holds true: There are only two things you have to do in life: Pay taxes and die.

Every nation on earth wants to know how much each of their citizens make. They want to know so badly that if you do not tell them, they toss you in jail and take everything you own.

You are either an entrepreneur (business owner/self-employed), an employee (one who works and earns wages for said work) or unemployed (receiving gifts/supported).

If you are modelling for pay, you are an entrepreneur. Each nation (and even local governments within nations) has different tax thresholds for self-employment. One may not earn enough to owe taxes, but they do want to know what you earned. And, if any photographer claims your gig for their own tax deductions, they will report how much they paid you to the government.

The link is great for getting UK info, but if one lives elsewhere, how does one find accurate local tax requirement info? Well, any government office in any nation will gladly put you in contact with a tax representative. I prefer to start in the Directory, typically under the heading "Tax".

I believe everyone knows how to find tax information. So is the question really: "Do I have to report my income and file tax forms"?

The universal answer is, has always been, and ever shall be: "YES".

Even God wants a tithe.


Being normal is a disability.


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 Razoir



Photographer
City: Crediton
Country: United Kingdom
Member Since: Jan 17, 2006
Posts: 5062
RE: Need tax advice!!! Oct 17, 2018 1:58pm

Red Baron is correct. The first bit of common mis-information is that you do not have to declare all income. You do have to declare all income, even income in kind, except for gifts.

It is much safer to give HMRC information they do not need (they can and will ignore it) rather than failing to give them information they do want.

If you are open and honest with them they will be fair with you. If you give them the idea that you are trying to be a smart-arse, they will pull you apart.

Ask them anything that is confusing you. They will be helpful.

As far as your PAYE is concerned. Leave that alone and you personal allowance will be applied to that. As long as you are earning enough from your PAYE job you will owe basic rate tax on your other income. A good habit is to open a second account for that and pay in a third of your extra income every time you are paid and leave it thre. Then when HMRC send you a bill, you will have the money. NEVER count any payment as all yours. That way madness lies.

If you get a lot of work it will be worth considering getting an accountant. Mine never charged me as much as he saved me! Do not forget that you can claim legitimate expenses against your modelling. That offsets against your tax bill.

Huge Hairy Jeremy

Remember, Trolls' brains are silica based and only function properly at temperatures lower than minus 72 degrees Kevin.

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glgamateurs

Photographer
City: Dover
Country: United Kingdom
Member Since: Dec 4, 2011
Posts: 5
RE: Need tax advice!!! Nov 4, 2018 12:22pm

You don't need to register or declare trading income on a self-assessment tax return, if the annual total is £1,000 or less:

https://www.gov.uk/government/publications/income-tax-new-tax-allowance-for-property-and-trading-income/income-tax-new-tax-allowance-for-property-and-trading-income

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