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Author Topic: Tax - accountants, deductible expenses, general information  (Read 51374 times)

lailah terri

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Re: Tax - accountants, deductible expenses, general information
« Reply #15 on: 02 October 2014, 01:06:45 am »
Your accountant doesn't need to be close to you. Mine lives on the other side of the country hehe. You can check the tax relief for escorts site, there's a few listed there.

Some have also advertised in the lions den here

x
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misskiss

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Re: Tax - accountants, deductible expenses, general information
« Reply #16 on: 02 October 2014, 02:33:22 am »
I believe it's a requirement for all professionals to take your address and usually I'd, same with solicitors, I had to give some of those loads of I'd for even a consultation recently. You have to give your address, it goes on your tax return anyway :).  I personally wouldn't,t want to put in call address . If different from home also if you have another job or there could be a discrepancy with the inland revenue matching your no details(?) And if in call is rented you don't want stuff going there by accident if you have to move for some reason ;)
I think as long as you choose professionals (accredited types) you shouldn't have to be worried.
I think telling the adult industry when you approach them let's you know they are not weirdl ymoralistic and have any odd notions (there are some), but would never register as an escort because I've been told certain jobs will flag you up to them as more interesting to them and could give you trouble.
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ana30

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Re: Tax - accountants, deductible expenses, general information
« Reply #17 on: 06 August 2015, 09:34:35 pm »
Hi,

I have several websites and I'm paying 300 quid a year JUST for maintaning them.  ???

Don't even get me started with my yearly advertising expenses.  As per HMRC I'm a "therapist" (I'm not lying here). My question is: Can I enclose those invoices and file these advertising/online marketing expenses as tax-deductible?

I don't include condoms or lingerie as tax-deductible (lol) but as a "therapist" I have the right to include "advertising" as  tax-deductible, right? Or will I get in trouble if HMRC looks into my websites and discovers the type of "therapeutic services" I offer? (lol)

I know, I should be discussing this with my accountant instead of posting it in a forum...but I just wanted to know if any of you guys have come across the same situation and how did you deal with it.

thanx.
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amy

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Re: Tax - accountants, deductible expenses, general information
« Reply #18 on: 06 August 2015, 09:39:36 pm »
Any self-employed person can claim back any expenses which were incurred wholly and exclusively for the purposes of running their business, and that certainly includes advertising. It's not a matter or rights, it's the correct way to do your accounts - why should you pay more tax than you're liable for?

It also includes condoms, lube and anything else you buy solely for work. You could be wearing the condoms on your head to keep your hair clean and provided you're only doing this when working, it's a perfectly legitimate expense. It isn't HMRC's role to decide what's appropriate for you to spend money on or how much - if I decided to do a one hour outcall to Aberdeen and the train fare cost more than my fee, it's still tax deductible (although they'd rightly think I was an idiot :)).
« Last Edit: 06 August 2015, 09:41:18 pm by amy »
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xw5

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    • I should be updating this instead...
Re: Tax - accountants, deductible expenses, general information
« Reply #19 on: 06 August 2015, 09:47:34 pm »
What Amy said, plus I would start asking some serious questions of whoever does your websites.

Virtually all the work is done at the start and although there is ongoing work - at some point I will work out how many updates the YES servers have had over the last year - it's not much split between the sites.
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Kay

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Re: Tax - accountants, deductible expenses, general information
« Reply #20 on: 07 August 2015, 12:14:49 am »
Yes, the spreadsheet my accountant gave me has a column for 'advertising and promotion', and one for consumables, which is where I put condoms.

As above, I don't understand your website expenses - can you not update them yourself?
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kassandraM

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Re: Tax - accountants, deductible expenses, general information
« Reply #21 on: 19 November 2015, 01:24:53 am »
Hello girls,

I have an account on AW for 2 months now. The first month was not the best one in making profit, as I was new and it took me a while to learn all the tricks. However, since one month ago I started to be a bit busier.

I am 20 years old, I am a full-time student and I live with my mother for the moment. The idea is that I have a mail box rented so all my letters go there (I am the only one who has access at the mail box).

I am thinking that I should start paying taxes. I was an escort before too, but not on AW or on other websites - just on my own (meeting clients at parties, dinners, nights out etc) - and never thought about paying taxes for that (ridiculous). However, now that I am doing this as a job, I think I should start to think about this seriously.  ???

I have a student bank account ( don't really know what's the point between a student and a normal one but anyways) and I am paying all the credits I purchase on AW with this card.

The point is that I have no clue from where I should begin with paying the taxes + I have some very important questions about this:  Are there any chances for my mother to know that I am registred at HMRC? Can I hide this from her (regarding the fact that all my letters come at the mail box I have)? Will this affect my studies/future/career ( I am studying Politics right now and I am hoping for a good career - escorting is just for the moment)? :-\

What do you girls think about all this situation?  :-[

I really need some help as I am lost with all these things...

Thank you a lot!!!  :)

 :-* :-*
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kassandraM

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Re: Tax - accountants, deductible expenses, general information
« Reply #22 on: 19 November 2015, 06:48:24 pm »
Quote from: Daisy_ on 19 November 2015, 11:02:42 am
Hi Kassandra,

You do need to pay taxes. You have a window from when your business started trading (your first income/client) to the time when you need to register, and I think it's about 12 months or something but I'm not too sure.

Doing sex work may affect your career in the future if it somehow becomes public knowledge and you're a public servant or something similar: it's not really something you can predict. I can't see why HMRC would disclose such information but if you put down your business as sex work it's then a matter of record. Other people have used something vague such as therapist / counsellor, other people don't.

If any letters from HMRC don't go to the address you live at with your mother then I don't know how she would find out. You would have to check with HMRC as to whether you can have your address registered as simply a mailbox though - for some reason I don't think this would be ok....?

You really need to consult an accountant for this type of thing though. I know lots of people register for tax themselves and file their own tax returns but I think initially it's good to have the advice of a professional.

Use the search box to look for things such as "tax" "registering for tax" to see how it's specific to sex work. Otherwise get on the HMRC website and have a look around there for deadlines etc.

It also could be useful if you let people know which part of he country you're in as someone may be able to recommend an accountant who is sex worker friendly (although in theory they all should be - one with knowledge in this area wouldn't hurt though...)  :)

Hey Daisy,


Thank you a lot for your reply. I do agree that I need to pay taxes and I am thinking seriously to consult and accountant. I think that the period in which I should register is 6months from the first client. I will consult an accountant about this situation after Christmas.

Regarding about the mailbox address, it should be ok as all my documents in UK are on this address (i.e. Driving licence)

I live in LONDON, so if there are any accounts you can recommend, please let me know.

Thanks,
Kassandra  :-*
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Kay

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Re: Tax - accountants, deductible expenses, general information
« Reply #23 on: 19 November 2015, 07:57:48 pm »
The tax relief for escort websites is useful - I use Abbingdon Knight, who have an office in Paddington (just over the road from St Mary's). They're not cheap, but very efficient and easy to talk to.
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ladyofthemansion

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Re: Tax - accountants, deductible expenses, general information
« Reply #24 on: 19 November 2015, 08:34:45 pm »
You could start selling Avon as a cover for being self employed.
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lady c

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Re: Tax - accountants, deductible expenses, general information
« Reply #25 on: 19 November 2015, 09:58:20 pm »
hi chick yes you do need to pay tax and as I have a child in uni you need to answer the question are you getting funded from the parents ect.  there is a lot to think about  and all earnings should be declared. Your parents would have filled out forms for you so it will affect the next year, i think.
Anything from the tax credit or inland revenue is confidential  so all you have to say is its your paperwork being sorted bla bla (its private).
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kassandraM

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Re: Tax - accountants, deductible expenses, general information
« Reply #26 on: 19 November 2015, 11:51:51 pm »
Quote from: KayHerts on 19 November 2015, 07:57:48 pm
The tax relief for escort websites is useful - I use Abbingdon Knight, who have an office in Paddington (just over the road from St Mary's). They're not cheap, but very efficient and easy to talk to.

Thank you a lot. Very helpful x
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kassandraM

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Re: Tax - accountants, deductible expenses, general information
« Reply #27 on: 19 November 2015, 11:52:43 pm »
Quote from: lady c on 19 November 2015, 09:58:20 pm
hi chick yes you do need to pay tax and as I have a child in uni you need to answer the question are you getting funded from the parents ect.  there is a lot to think about  and all earnings should be declared. Your parents would have filled out forms for you so it will affect the next year, i think.
Anything from the tax credit or inland revenue is confidential  so all you have to say is its your paperwork being sorted bla bla (its private).

Thank you darling  :-* :-*
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Gypsy

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Re: Tax - accountants, deductible expenses, general information
« Reply #28 on: 04 February 2016, 10:27:19 pm »
I've read numerous threads about declaring occupation to the tax man and some of you say that you say that you're a therapist, counsellor etc.

But if you put a false job title down, how do you get round the issue of claiming back expenses for things like lingerie and sex toys?

I'm not afraid of phoning HMRC and saying that I'm an escort, but I'm worried that if I do get another job at some point in the future, would 'escort' be shown on any employers documents?  :-[
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amy

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Re: Tax - accountants, deductible expenses, general information
« Reply #29 on: 04 February 2016, 10:39:49 pm »
And one more time for the cheap seats...

Quote from: amy on 27 September 2014, 02:57:57 pm
Lord, how I wish I knew who started off this myth, if for no reason only that I could throttle them (given that I'm unlikely ever to get a tenner for every time it's been posted on here, which was my Plan A :D).

You may claim tax relief against any expense which is incurred wholly and exclusively in the running of your business, and this includes condoms (which are as much protective clothing as anything else), lube, sex toys, hosiery and clothing provided they're used/worn only for work, hotels and travel expenses and all the rest.

What you put on your form is up to you, but as Kay has said, nobody really cares provided you pay your tax. If I was a painter and decorator and decided that I wanted to keep my brush heads in condoms so they were protected from dust, I would have every right to claim for them then, too. But to claim expenses you do need to keep your receipts or you've got no proof you ever paid the money out for them - you must have some confirmation emails from hotels, or stuff you've ordered online, mobile topup receipts? If not, don't worry - just start saving them from now :).
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