Webcam Model Taxes UK

[kinkylittleslut]

Hi everyone - long time lurker, first time poster here

I was wondering if any of you could help me as I'm a little stuck... I've only been self employed for a few years and each time I've filled in my tax return I haven't bothered to claim any expenses, to be honest I didn't think I was able to!

The thing is that I buy a lot of undies, socks, tights, stockings etc... and they are all used in cam shows and are mostly sold on as used as well, so I thought I could claim them as business expenses but I have recently discovered you can only claim a certain percentage of certain items as expenses... eg. I just bought a new laptop for £200, I'm told I can only claim £100 for that this year.

Are any of you able to tell me whether I can actually claim my outfits? If so what percentage of their cost I am able to claim? And anything else I can claim that I might not have thought of?

Thanks very much!

loulou x

[Lerler]

I'm self employed, in a different business. You should be able to claim all of that. If it is only bought for work.
Some people go over the top and start claiming their lunch.

You can claim for petrol as well, if you are doing a lot of travel, from one place to another.
The difficulty is that you have to collect all your receipts, and keeping on top of it. I sounds harder than it seems.

You have to keep good records of your expenses, and possibally be able to show in going and out going transactions.
I'm not sure how this would work with your business, It sounds a bit harsh to me.

If you want to go down the proper route, I would strongly recoment an accountant, as they can put to side myths and give proper advice.

I sometimes wonder if you are dealing with cash all the time if you want to go down the 'Proper route'?

All very commendable that you want to legitimise the business etc.

[friendly accountant]

I'm self employed, in a different business. You should be able to claim all of that. If it is only bought for work.
Some people go over the top and start claiming their lunch.

You can claim for petrol as well, if you are doing a lot of travel, from one place to another.
The difficulty is that you have to collect all your receipts, and keeping on top of it. I sounds harder than it seems.

You have to keep good records of your expenses, and possibally be able to show in going and out going transactions.
I'm not sure how this would work with your business, It sounds a bit harsh to me.

If you want to go down the proper route, I would strongly recoment an accountant, as they can put to side myths and give proper advice.

I sometimes wonder if you are dealing with cash all the time if you want to go down the 'Proper route'?

All very commendable that you want to legitimise the business etc.

Hi,

I run my own accountancy practice with a mixture of Adult Industry and Non Industry clients so I understand this business well. I am also very non judgemental and discreet (as other clients will vouch for me).

My website is xxxtax.com - feel free to get in touch.

[friendly accountant]

I sometimes wonder if you are dealing with cash all the time if you want to go down the 'Proper route'?

Just picking up from the above comment (and I maybe out of place slightly but it seems to be something that a lot of people are thinking about) - IF you have a profile on any adult site or social media - your chances of getting on the tax man's radar will increase. JUST because it's a cash business doesn't mean you don't have to declare it. Consider tax avoidance v tax evasion!

Back of my soap box, no offence mentioned!

[Trinity-Belle]

I would deffo employ an accountant honey. He will save you more in tax than it costs to use his services.

As it is the start of a new tax year, it is a good time to begin collecting receipts.

I claim for absolutely everything including (as I do outcalls) fuel, parking, car servicing & repairs, and also for shoes, clothes, lingerie (It's frightening how much I spend on stockings each year!) condoms, lube, toys, broadband connection (including the landline cost), laptop, software, mobile phone, advertising expenditure... I even claim a proportion of my household bills because I use two rooms in my own home for my work. Oh, and if I need a snack on my way home from an outcall, then that goes through the books too.

Anything big, like a laptop, is an asset, so you usually claim it over a period of years rather than all in one go.

But quite honestly I just don't worry about what I can and can not claim for. I keep every receipt if I think there is even a small hope that I can legitimately claim for it, and each week I number all my reciepts and put them into a spreadsheet with a small explanation of what they were for. At the end of the tax year I send all of my receipts (neatly, in date order) plus the spreadsheet to my accountant and he sorts out what I can and can not claim for... that is what I pay him for, after all! I also keep a milage log showing which mileage was "business" and which was "personal" which he uses to calculate how much of my fuel and motoring expenses I can legitimately claim.

Also, there will be other "allowances" you can claim for which you didn't even know existed!

I'm a good girl and I pay my taxes... I see no reason to get on the wrong side of the tax man... I would sooner pay the right tax now than get clobbered with a massive tax bill some time in the future because Her Majesty's Inspector of Taxes decides that I've been economical with the truth!

But you must claim your expenses honey, otherwise you are paying too much tax.

[Trinity-Belle]

PS... the lovely Friendly Accountant might correct me, but I am pretty sure that you will be able to claim expenses for previous years retrospectively so long as you can show that what you are claiming is reasonable.

One year I lost a whole section of my receipts in a house move... about 4 months worth, I think... so I just estimated them based on my previous years entries and the accountant was happy with that.

It was after that I started doing my spreadsheet weekly rather than doing it all at the end of the year.

[kinkylittleslut]

Thanks so much for your replies Trinity-Belle and friendly_accountant

I will deffo think about employing an accountant, it would make it a lot easier on me! I wouldn't even know where to begin claiming for previous years as I never saved reciepts so I think I'll just have to accept the loss! I have saved all my reciepts for this year so far (so many for just one month!) - I have them stapled with my bank statements with each expense highlighted and I have a folder to keep them all in... god knows whether ill be able to keep up the organisation but ill do my best! I agree with you 100%, I wouldn't want to get on the wrong side of the tax man lol! So because items such as lingerie are not assets and are used solely for business I would be able to claim the full amount?

Thanks so much, and I will check out your site friendly_accountant

xxx

[friendly accountant]

I am always happy to help and can provide solid references from clients in the industry.

Feel free to email / ring (all contact details are on my website!)

[Trinity-Belle]

So because items such as lingerie are not assets and are used solely for business I would be able to claim the full amount?

My accountant says that lingerie is allowable because it is bought wholly for my business (I keep my personal lingerie separate) and it can not be said to be for personal use on the grounds of "warmth and decency".

Dresses and shoes are harder to claim for because they can be said to be "dual purpose" but I claim some of mine on the grounds that I wear them only for work and if I didn't work as an escort there is no way I would be buying the kinds of shoes and clothing I wear for work. The accountant says I am on dodgy ground with that one, but he puts it through on the grounds that I actually change out of my own clothing and into "Trinity's" clothing before each call, then immediately after I will dress in my own clothing again, and that clothing is an integral part of my business offering. I could not offer the services I offer without buying the clothes that I buy. Any outfits which could not be considered "outwear" can be thought of as being the same as lingerie... like your schoolgirl outfit and your sexy nurse outfit, because they are effectively "costumes" which you put on purely for work.

{Edit: You can claim a "reasonable" amount for the cost of laundering as well... and for laundering sheets and towels if you are escorting....}

Also... you said that you sell used clothing? Well, anything you sell you absolutely can claim 100% of the cost of buying... "cost of goods sold" is absolutely allowable. It does mean that the money you get for selling them has to go through your books as income, though.

Maybe I should sell my shoes and dresses via AW periodically... hmmm.... might speak to the accountant about that!

I don't think friendly accountant is going to give anything away - which is fair enough... it is his business after all... we shouldn't expect him to work for free... that would be like him asking us to "perform" for him for free!

[Trinity-Belle]

PS... just to clarify.... ordinary dresses and shoes which you could wear out can not be claimed for, sadly.

You have top be able to show that it is solely for your business.