Are you a content creator – as the taxman is after you!! Not to worry you, but… HM Revenue and Customs has realised that some online sellers, influencers and content creators haven’t been fully forthcoming about their YouTube, Google earnings or other online earnings. In fact it seems they have got information from data mining the various online platforms and are writing to loads of people suggesting they need to sort out their tax position.
If you get a letter from HMRC don’t ignore it. The taxman takes tax very seriously. However, so do we! Which is why we want to help you to minimise any tax bills arising from your online income.
Content creating is a fantastic way to earn money. For some this is a side hustle that helps – but for others it can bring in millions. And clearly the taxman wants to make sure he gets his cut!
If you get a letter from the taxman about paying tax on your content creation income then firstly don’t panic! The taxman will give you a 30-day deadline to reply … so don’t delay in getting help from us your friendly chartered accountants!
If you have to pay tax on this income, then what can you do to minimise your tax bills on your content creation earnings? Often the answer to this is it depends on your circumstances. It definitely depends on the scale of your earnings and what other income you have and what sort of expenses you have. How can we help make your tax bills smaller – well we won’t know until we find out more about you.
Anyway, get in touch with us at [email protected] so we can help keep you on the right side of the taxman …but maybe with a smaller tax bill than you thought.