Expenses and being self-employed as a Webcam Model

[courtesanannabel]

ladies, been reading posts on accounts and surprised how many dont have an accountant, appear to be given incorrect info, dont know what to claim for and what expenses you can put - plus not telling inland rev what you do
..... its a minefield out there and without good advice you could be losing out
been doing this 14 plus years and here are few things might help

you can claim for make up for your job .. if different and only wearing for work - for example i do webcam a lot and find stage make up is better, i would not wear this out
as i do retro photo shoots and meets dressed in retro then i do put in 1 hair do a month plus nails
have a cleaner at my Yorkshire apartment, that goes through plus all the expenses of there - rates, rent, electric, furniture, bedding, towels
i do a shop a week for milk, juice, water , tea, coffee, items for lunches with clients or the naked bedroom picnics i provide
all my work phone expenses go through as well

i earn over the higher tax threshold but my tax bill is a low as it can possibly be, i do pay a fixed fee a month with an additional small insurance figure just in case i get a tax enquiry - which within my fixed yearly fee is not covered but is with the insurance

just seen info on Limited company ... thats a nightmare i did have one and the inland revenue made its use so complicated that i went back to sole trader

lots more but dont want to bore you ...

but lastly you do have to tell the tax office what you do or they will fine you .... how do you put condoms through ?
if your running a sole trader business only YOU , the tax office and your accountant will ever know

happy to help with anything else or if want my accountants details, even for an initial free chat then do call or text

just so you know i have no benefit in recommending my accountant apart from he is very good at at what he does, yes he can do your accounts, offer great business advice, offers AW marketing solutions and can do updates ...... plus has a latvian wife, who speaks many languages

i feel if i can help out anyone with my knowledge then it goes some way to the assistance i was given all those years ago


Anna
07534405359

Hi Anna,

May I add a few comments to your post please?

1. A limited company can generate significant tax savings. Operated in conjunction with a "hands-on" accountant it will not be a nightmare; based on annual profits of £50,000 trading as a limited company will produce tax savings of £2,300 in the current year even after George Osborne's 7.5% dividend tax. A word of warning though don't include escort earnings in a limited company - it may well be illegal.

2. HMRC will not fine you if your job description isn't totally accurate. HMRC are more concerned about whether the expenses being claimed are allowable.

3. As stated earlier I agree with you that you need an accountant who specialises in your industry

With kind regards,

Stuart

07866 800721

Thanks for input 

Seemed little point to me to have a limited company if I couldn't pay myself how else would I receive a salary? It was actually at a meeting with tax man who stated a limited company for an escort is not the best course of action and at same meeting did say that have fined people for incorrect disclosure of job role when it came to what could be claimed 

I found for me, an accountant not only saves you money but time, what I can earn in the time it would take me to do my books every month is usually treble what I pay out, and knowing its in the right hands - the insurance has been worth paying though in case of a tax inquiry