If you’re anything like me, you’ve probably started to worry about your self-assessment and might be feeling a bit unsure about what income legally counts if you work as a blogger or influencer.
HMRC have no fear… Mama Cates is here.
Don’t get stressed, I’ve teamed up with Heaton Vences to share lots of expert advice and tips on filling in your tax return properly as a blogger. Make sure you read to the bottom of the post so you can schedule a free consultation!
FILING A SELF ASSESSMENT
-Which expenses you’re entitled to? Expenses for bloggers can include…
- Everything to run your site: hosting fees, editing software, stock images, Facebook Boosts etc.
- Any ebooks or e-courses This can include anything you’ve purchased to brush up on your existing skills as a blogger and can’t include courses and books you used to set-up as a blogger in the first place.
- Equipment purchased to get your blog up and running-e.g buying the domain, buying a laptop or camera.
- A rate for working from home. Even if you just work weekends on your blog, you can claim this!
- A percentage of your phone bills (you’ll need to decide on a rate of which you use this for blogging and be able to justify it) if you use your phone for social media, blogging and chatting with PRs.
- Travel to events and tickets for blogger events. You can claim mileage even if you don’t have receipts (just keep a log of journeys). However, it’s savvy to keep receipts for petrol if you can (you can use Heaton Vence’s system on Capium to quickly take a photo of them and upload straight to your accounts!)
But be careful- you’ll need to be able to prove it’s led to you making money. So, no you can’t claim a Primark haul for a Youtube video, but if you’ve gone to a blogger event to meet brands, you can absolutely claim tickets to the event and travel, since it’s helped secure further work!
-Compile receipts and match them to bank statements, ensuring you have all the evidence you need to back up your expense claims.
DO GIFTED ITEMS COUNT AS INCOME?
If you are #gifted an item instead of payment, then yes technically it has to be declared.
If you are in agreement with a brand to write a blog post or a social media mention in exchange for £100 worth of product, you’ll need to add those to your income. If you are #gifted items or sent ‘blogger mail’ without any agreement to post coverage, those are gifts and don’t need to be declared!
Make sure you are covering yourself creatives, know your worth and understand what you are creating is valuable!
Schedule your consultation with Heaton Vence’s here !