What does “Tax Deductible” mean? The answer seems poke-in-the-eye obvious. Spend money on stuff and you can deduct what you’ve spent from your tax bill. Right? Wrong. Tax deductible means you can deduct it from the amount you’ve earned before Read more…
It’s hard to keep up with everything that’s happening in the World of social media technology. One platform that’s risen to prominence over the last few years is TikTok. TikTok has become famous for young people posting short videos – Read more…
It may be a good time to review your mortgage. House prices have increased in many areas and this can mean that the amount of the mortgage may now be a lower proportion of the value of the house. Lenders Read more…
Olivia is an author in her spare time and has written her first book. She’s thrilled that she’s been offered a publishing deal to pay her an advance of £50,000. Then she discovers that the £50,000 will be added to her income Read more…
The 20/21 tax year has been a difficult year financially for many due to the pandemic and you may have had unexpected changes to your household income. If you haven’t been claiming Child Benefit payments, it’s worth checking whether you Read more…
Many of our self published authors get the majority of their income from Kindle Direct Publishing (KDP). From a VAT perspective this is treated as a business-to-business sale and takes place where the customer (KDP) is based. It is outside Read more…
One of the early tax breaks to help businesses dealing with coronavirus was the ability to defer VAT due due in the period 20 March 2020 to 30 June 2020. In practice that means the VAT returns for February, March Read more…
Earning money as an author – whether as a sole trader or through a limited company – means you have to comply with the same rules that any business needs to follow. The Information Commissioner’s Office (ICO) is the independent Read more…
For many authors their social media accounts are an important part of their lives – both from a business and a personal point of view. It is possible (and sensible) to cover what happens with your digital assets and social Read more…
The tax man isn’t always Scrooge when it comes to celebrating Christmas provided you’re running a limited company. Your company can pay for a Christmas party for your employees (including you if you are a director) for up to £150 Read more…
