Whether you operate your photography business as a sole trader or through a limited company, it’s important to make sure you’re claiming all the tax relief on business expenses you’re entitled to. The rules can seem complicated, especially for things...
Photography, more so than many other businesses, can have real peaks and troughs in the flow of work. For wedding photographers, for example, summer is usually hectic with more clients than can be handled, while winter can be a dead zone. Those who depend on pitching...
I read somewhere once that you must be ruthless to be a business owner. Steve Jobs also famously narrated Apple’s ‘here’s to the crazy ones’ advertisement, a nod to entrepreneurs and start-up businesses, basically implying that there’s got to be something a bit...
This is a question that I am often asked by clients seeking higher returns on their cash than they would otherwise achieve from a bank, where they do not want to extract the cash from the company due to the tax that would be suffered on dividends, or believe that the...
IR35 is an anti-avoidance tax that has been around since the turn of the century. It’s objective is to prevent individuals that would otherwise be an employee from engaging via a limited company and receiving the tax benefits associated with being in business. Since...
As with claiming a tax deduction for any business expense, a salary must be paid on a commercial basis, wholly and exclusively for the purposes of business. It follows that if you employ a family member to carry out a function of the business; firstly, they must...
