Going legit

Dino f

Dino f

Wiiiiilmmmaaaaaaaa
Suspended / Banned
Messages
2,711
Name
Dean Feltimo
Edit My Images
Yes
Okay, i take quite alot of promo shots for rock bands etc, do the usual thing, charge a few quid and a few pints. Recently though it's getting a little bit out of hand. I've been offered quite a good deal doing shots for a small record company of the bands on their label. This could be the first step into something a little more permanent. I already have a full time day job working for a company making optical filters, that i want to keep. Does anyone here have some sort of set up where as they have a full time job (paye), but does some photography as a self employed status. The money involved is too much to do cash in hand. Where do i stand Tax wise etc.
Any info would be greatly appreciated.
Dean:)
 
It would probably pay you to have 10 minutes with an accountant, to discuss the easiest legitimate way to do it.
depending on how much you do there may be different ways around doing it.
I would imagine if you are doing a lot then you will have to register as self employed and have accounts done.
 
You cant go self employed if you work full-time you only have to submit you photo earnings to the tax man to be legit but it gets more complicated than that i can explain better over the dog and bon than on here if you are interested get in touch by p.m. and i will give you my phone No Good look
 
just wanted to say GOOD LUCK!!! :banana: (sorry, not got any advice) :bonk:
 
A workmate of mine drives a mini cab at weekends as a second job. He gets an accountant to sort his tax for him for this second job. Because he claims for servicing, cleaning, diesel, etc. he pays very little tax on this and doesn't pay 40% tax. Another workmate is a Retainer Fireman and does pay 40% as he has no means for claiming expenses etc.
I should imagine you will be able to claim expenses for your photography work so that should keep your tax down. Just find yourself a good accountant and you shouldn't have any problems.
 
See an accountant for a free initial interview.

You will be able to claim your highest rate of tax for expenses but to have expenses you have to spend money. B*gger, foiled again!
 
My soon to be son in law is a chartered accountant, who is an office head accountant for HM Customs and Excise.

I asked him this exact question at the weekend. He says that as long as you keep an account of income/expenditure, even on the back of an old envelope!!, and send it to the taxman every year or so, you'll be acting within the law.

He also said, that in most cases, so long as the income wasn't regular, or large, that no claim for tax would be made. It just isn't worth the hassle and paperwork. He also said 'We don't often chase up the honest little guys, it's the big time fraudsters and benefit cheats that we are really interested in'.

He's a really nice guy, up front and honest, but................ really??:)
 
****ing stupid that you can have a job earning £20k and a second income from photography of £4k per year and you'll pay more tax than if you earn £24k from 1 job, surely it should be the same, its just the taxmans way of nailing the person who is trying to make ends meet....... god i hate the taxman
 
You must log in or register to reply here.
Back
Top