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

[3CA]

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

[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

[3CA]

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

Hi Anna,

You pay yourself partly in salary with the rest in dividends.

The tax man tries it on, that's why taxpayers need a good accountant with a strong character. I'd love to see HMRC argue over a job description if everything else on the return is correct. They'd make fools of themselves.

Finally, tax inquiry insurance is worth every penny in the event of an inquiry. HMRC will pursue stupid arguments for ever and a day in the hope the taxpayer caves in because of the fees they have to pay their accountant. Insurance levels the playing field.

With kind regards,

Stuart

[courtesanannabel]

I don't really understand ladies why you wouldn't put down your an escort ?
why would you not put down what you do if only you and the tax man know ! 
and just think how many things your not claiming for you could ? condoms, lube, wipes, baby oil, hand wash, advertising, marketing etc

..... most accountants would give an hour free chat even if you go no further


Anna

[Gone]

Because I assume they don't want as government record that they were/are a sex worker? For future employment, mortgage applications and so on. I wouldn't like to sit with my bank manager and have that conversation, personally. It's a trade off, perhaps we do (I'm not an escort btw, just a mere cam girl) pay slightly more to HMRC but for the price of keeping some privacy, lots of women are prepared to do that. That's why...

[3CA]

Because I assume they don't want as government record that they were/are a sex worker? For future employment, mortgage applications and so on. I wouldn't like to sit with my bank manager and have that conversation, personally. It's a trade off, perhaps we do (I'm not an escort btw, just a mere cam girl) pay slightly more to HMRC but for the price of keeping some privacy, lots of women are prepared to do that. That's why...

There's is a middle route! Don't describe yourself as an escort but claim all your expenses.

I act for escorts who describe themselves as masseurs, part-time French teachers, therapists but I make sure I claim all allowable expenses. Don't forget that when I prepare a set of accounts I don't describe condoms as condoms, I'm more likely to use a heading such as Sundries or Direct Costs.

Finally, I have webcammers who describe themselves as internet service providers, models, etc..

My advice is if you're happy describing your business as escort or webcammer then do it. If not, there is always another description.. Lets stop worrying about titles and just make sure you pay as little tax as possible.  (P.S. Spoken as a true Chartered Accountant )

[Strawberryblonde]

I've not had a problem so far in putting Escort as my job title, I haven't however been applying for a mortgage. One member of staff at two of the banks I use both know, I told them during 1-2-1 meetings - they were a little curious, and acted totally professionally. They couldn't find a category to change my job title to so carried on with the vague one already apportioned.

Some Escorts are afraid that somehow future employers will find out, as far as I'm aware employers don't have access to your details all they have access to are the codes required for your PAYE/NIC. I do understand many women don't want anyone to know about their sex work, so they aren't prepared to declare as such.

[courtesanannabel]

We all make decisions on how we proceed with our business
Getting and taking on board advice is always tricky but seems to be more complicated 
when wrapped up in the adult industry 
there is lots of info out there and knowing what to go with can be a mine field but as long as you pay some tax then your half way there, with or without an accountant 


If I had half the advice that there is available now when I first started then I would not have been as green in this industry ... my views are my opinions only, take it or leave it 

Only here to help with 14 years as an escort 

your welcome to ask anything : if I can help I will 

Anna

[3CA]

I've not had a problem so far in putting Escort as my job title, I haven't however been applying for a mortgage. One member of staff at two of the banks I use both know, I told them during 1-2-1 meetings - they were a little curious, and acted totally professionally. They couldn't find a category to change my job title to so carried on with the vague one already apportioned.  

Some Escorts are afraid that somehow future employers will find out, as far as I'm aware employers don't have access to your details all they have access to are the codes required for your PAYE/NIC.  I do understand many women don't want anyone to know about their sex work, so they aren't prepared to declare as such.

I always make sure that HMRC don't amend any PAYE Coding Notices for any clients who are self employed but who are also employed.  Most employers wouldn't question a reduction in a PAYE Code but it is an indication that the employee may have other (self employed) earnings.

Better to avoid the problem in the first place.