 LATEST NEWS
Models and TAX !
The importance of getting good tax advice before you start !
New Age Accountancy Practice http://www.naap.co.uk offers advice to those from all walks of life including those that are considering entering the modelling industry.
The Founder of albamodel.info Katie Froud states " Getting tax advice whilst setting up and once you are working is essential. Many considering a career in modelling and parents of child models do not realise what they can offset and do not keep the expenses of setting up in order, which means when their child gets to the tax band level not having saved receipts and keeping a proof of costs incurred that person will be paying more tax than they need to. "
So many people do not realise the great importance of seeking proper tax advice before they as an adult, their teenager or child starts modelling. There are many expenses which are tax deductible in modelling that would not be considered with other occupations.
Whilst getting ready to start as a self employed model there will be research and setting up costs. Keep receipts for most items, which would include travel, petrol plus any agency fees and costs towards clothing, even toiletries and makeup, hair care, physical fitness and so on and of course the bonus is that accountancy fees are also tax deductible !
" No-one really wants to pay tax, but we have to and that's fact of life. Still there is nothing worse that someone paying too much tax because they do not realise what they are entitled to offset whilst they are getting started".
Michael Collins relaxed and approachable attitude make things easy for his clients so no doubt there are plenty of other self- employed people that will be paying too much tax, take a look at http://www.naaap.co.uk/ - making money work for you.
If you don't want to spend the time filling in your own tax return then contact www.taxreturns4u.com
|
