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OnlyFans Tax Advice If you’re just starting out as an online content creator and you don’t know the first thing about taxes… The most important things to understand: Your income will be subject to taxes and you must submit a personal tax return. You will have to enrol yourself with […]
MTD for Personal Tax Making Tax Digital is hitting the personal tax market in April 2023. Plenty of time I hear you cry…..or is it? You only have one full tax year left to make sure you tick all the boxes. So what does MTD for personal tax actually mean? After […]
Personal Income Tax The income made from OnlyFans is subject to income tax and national insurance, if you are not working through a limited company, and therefore you must be filing personal tax returns (PTR) with HMRC for the profit they make from the site. HMRC have stated they will be targeting OnlyFans and other […]
The amazing guys at www.vittopro.com have kindly given us some insight on the trials and tribulations, trading on Amazon. Owner & Entrepreneur, Phil Bone, is an expert in all sorts of support and protective wear for sports and has been a huge success selling on Amazon. How did the great man do it? Why did you […]
Amazon accounting is extremely complicated with many traders using the net amount paid to them as their sales figure, which inevitably ends up with tax investigations. The Amazon report summaries are very confusing, none of which seem to tally back to the amount paid into the bank account, if you are using date range reports […]
One of the biggest mistakes Amazon traders are making, is spending far too much time on bookkeeping, instead of driving their business. The complexity of the Amazon summary sheets can cause all sorts of problems for business owners. You need to have the confidence that every transaction has been recorded correctly and feeds through from […]
Since Brexit, trading via Amazon has been made even more complicated with the new treatment of VAT. In 2020, 92% of businesses did not pay the correct amount of taxes and some didn’t pay any at all! So what do you need to look out for? You need to know where you are buying your […]
With the 6th April fast approaching, when the new off payroll working rules come into effect, we wanted to highlight the options you still have; You might be in a position where your agency or client have not done their due diligence or completed a proper assessment of your role, regarding the IR35 status. […]