Webcam Model Taxes UK

[friendly accountant]

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!
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Seeing as you called me lovely in an earlier post (flattery does work lol) then I just have to reply. Again it's very much a general comment as each client's circumstances are diferent and I have to qualify my answer etc etc... (you get the message!)..

HMRC doesn't like "duality" of purpose but as long as you can prove that there is no duality then it's happy days. The sexy/kinky/fetish (whatever) undies for work..and the "boring" undies for home are an obvious case. OK you may wear the kinky stuff at home occasionally but who could prove it?

Sometimes you also have to look at the bigger picture....and with no ill feelings to animals...there is always more than one way to skin the moggy. I am in NO WAY anti animals or pro animal cruelty before people jump on me - It's just a phrase that comes to mind.

Your right - some accountants have differing opinions BUT so can two different HMRC inspectors especially when presented with exactly the same information. Take for example home as office costs - can be a right PITA if you try and be too clever...sometimes you just accept a situation as it is and you find other ways to achieve the same goal.

Hopefully some good karma comes my way as that is free advice

[friendly accountant]

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.

Out of interest - who told you that? I appreciate we don't know all of your circumstances - i.e is it your only laptop etc....

[iluvjem]

You should be able to claim for your whole lap top, I always have including repairs.

Percentages come in when its your electricity for example I only claim a 3rd (which is ridiculous as I run another a business which uses alot of electricity but my accountant is a coward and wont risk pushing it pffft).

That's a 3rd electricity, mortgage, gas etc

I claim for anything I by for work including heels, my heels have never seen outside lol! I also claim for random things which i might have used as props in pics or videos.

[Trinity-Belle]

The last time I bought a laptop the accountant said it was better depreciated over a number of years?

But then it didn't cost £200!

Oh, and thanks to the everso lovely friendly accountant for the everso lovely free advice!

And yes... more than one way to deal with these things... but I didn't like to say it publicly!

[friendly accountant]

The last time I bought a laptop the accountant said it was better depreciated over a number of years?

Depreciation is not the same as capital allowances. Depreciation is something us accountants make up .... whereas the HMRC doesn't understand them (actually he does but he just doesn't agree with them) so he makes up something called capital allowances. Then to confuse people he gives us Annual Investment Allowances (AIA's) which have the same effect as 100% tax relief in year 1 - Confused?

Accounting need not be easy....ask an accountant! (or the lovely HMRC)

[friendly accountant]

And yes... more than one way to deal with these things... but I didn't like to say it publicly!

And that's where a time served accountant who has been around the block a few times will prove their weight in gold. Just don't get me started about unregulated accountants who have no qualifications or experience... Whoops...thread highjacked...sorry...back in my box !

[Trinity-Belle]

Confused?

Haha! Yes, thank you!

Which is why I employ an accountant!

And that's where a time served accountant who has been around the block a few times will prove their weight in gold. Just don't get me started about unregulated accountants who have no qualifications or experience... Whoops...thread highjacked...sorry...back in my box !

Not hijacked at all... in fact, bang on topic!

I've said before here and in other threads and on other forums... unless you are only clearing, like ten or fifteen grand, a good accountant will save you considerably more money than he costs.

And it is well worth employing an accountant who understands the peculiarities of your particular industry, who will most likely have come across any questions you might have many times before... no matter what industry you are in. And one who is not adverse to working in the clients best interests.

A friendly accountant... if you will.

[iluvjem]

The last time I bought a laptop the accountant said it was better depreciated over a number of years?

But then it didn't cost £200!

Oh, and thanks to the everso lovely friendly accountant for the everso lovely free advice!

And yes... more than one way to deal with these things... but I didn't like to say it publicly!

Now I invest all my money in my other business and that is spread over the years but you're talking purchases worth thousands of pounds. A laptop should just go through as a one at the time I would think?

[Trinity-Belle]

Dunno... I just trust him to act in my best interests, and if that is what he wants to do, I just let him do it.

Like you, this is not my only business, and my income from this generally goes to fund other ventures, so I have many fingers in many pies and my accounting does actually get quite complicated....

[Scotty_Hottie]

Hello everyone! Just created a new account as Scotty_Hottie, as I was Vlodina previously.

See this business of claiming for a percentage of utilities? When i did my taxes for 2010-11, I only had a couple of weeks doing PSO and didn't worry about it. But is this on the self accessment form? I didn't see it. Or is it done separately on some other form? Thanks xx