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https://www.artbusinessinfo.com/uk-tax-tips-artists.html
NEW! Hobby Income Tax Allowance (UK) for artists without a business You must tell HMRC if you have: - gross trading income over £1,000 - register for Self Assessment - other gross income over £1,000 up to £2,500 - contact HMRC - other income over …
https://www.artquest.org.uk/how-to-articles/tax-tips-for-artists/
4 out of 5 artists are set to pay more tax than they need to each year. It’s a scary statistic, especially when you know that people in Britain overspend £7.6 billion in unnecessary tax every year. To help you be the 1 in 5 that don’t overpay, accountant Russell Smith has devised these ‘Top 10 Tax Saving Tips’ for artists.
https://uk-taxreturn.co.uk/index.php/tax-guide-for-self-employed-artist/
Last year, the penalty rules changed. Previously, if the tax you had to pay on 31 January was less than £100, then your penalty would be reduced to whatever was owed. But this has been scrapped and the £100 penalty is now fixed and automatic. Paying any tax due. Any tax you owe must be paid by or on the 31 January following the end of the tax ...
https://www.artbusinessinfo.com/tax-tips-for-artists.html
Dec 01, 2012 · Ten More Tax Tips for Artists - Round about this time of year - just as I'm submitting my tax return to Her Majesty's Revenue & Customs, I write a blog post about tax - for artists. Do Hobby Artists need to complete tax returns - reasons why people who are not full time professional artists living in the UK might need to complete a tax return
https://www.thesun.co.uk/money/14220051/rishi-sunak-super-deduction-tax-break/
Mar 03, 2021 · The UK’s Covid vaccine rollout will receive a £1.65 billion boost Universal Credit's £20 a week boost will continue for another six months - and those on Working Tax Credits will get an extra ...
https://www.freelancetaxation.com/deductions-artists
Artists: Use this list to help organize your art tax preparation. This is a basic list of typical expenses incurred by artists. You may have others. Art supplies Books, magazines, reference material Business gifts Business insurance Business meals Cabs, subways, buses Copying, printing Cultural events/ museum entrance fees Entry fees Equipment and software Film & processing […]
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
All such artists are operating pass-through businesses. The Tax Cuts and Jobs Act established a brand new deduction that allows owners of pass-through businesses, including artists, to deduct an amount equal to up to 20% of their net income from the business. This is in addition to all their other art business deductions.
https://www.artworkarchive.com/blog/the-artist-s-guide-to-tax-deductions
You can also write off any office supplies you have purchased to run your art business such as paper, cards, postage etc. Studio Expenses. If you have a studio outside of your home, the total rent and utilities are fully deductible business expenses. For those that have an art studio in your home that is used exclusively for your art business or making art, you can deduct a portion of your monthly overall …
https://thecreativeindependent.com/guides/a-smart-artists-guide-to-income-taxes/
Why tax planning matters Tax rates, brackets, and deductions 101 The tax advantages of treating your art like a small business How to qualify as a business for tax purposes Tax form 101 What you actually need to complete your taxes A few notes on income sources: W-2 vs 1099-MISC vs 1099-K How to make tax time easier Artist-specific tax ...
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