If you do not submit your tax return on time or pay the tax you owe, there are several penalties, interest, and surcharges that you may be subject to. Penalties: If you file your tax return late, you will be charged a fixed penalty of £100. This penalty applies even Read more…
We hope you all have a lovely Christmas and a Happy New Year. Thanks for all your support over the last 12 months. We’re not sending out Writer Tax Christmas Cards this year and have made a donation in support of The Trussell Trust.
Getting an pure electric car can have some great tax benefits if you run your own company. Here’s a quick summary Tax relief on the cost of the car If you buy a new electric car then you get the full cost of the car set against your profits in Read more…
In association with our friends at Continuum (Financial Services) LLP we’ve put together a few tips for you to think about before the tax year end on 5 April 2022. If you’ve any queries or are interested in an introduction to Stuart then don’t hesitate to get in touch. You Read more…
We’re delighted to have been asked to write an article for the 11,000 members of the Society of Authors in the Winter edition of The Author magazine. We’ve covered: The new Health & Social Care Levy The increase in corporation tax Companies and copyright The ‘super deduction’ Creative averaging Making Read more…
When we set up Writers Tax our aim was to create a firm of accountants that focused on meeting the accounting and tax needs of professional writers. Whilst we believed there was a real demand for a firm of accountants that really understood the tax issues faced by authors when Read more…
We’re delighted to have been asked to contribute to the Writers’ & Artists’ Yearbook 2022 – the number 1 resource for all writers and artists. We’ve written a whole new section for the book titled – Managing your Finances: a guide for writers. It’s a real honour to be included Read more…
Claiming for expenses can help to bring your tax bill down so it’s worth looking at what you can claim… for your looks. Author Bio Photo After you’ve spent hours carefully crafting your bio you’ll want a photo too. The cost of getting this done by a professional photographer would Read more…
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 working out how much tax you owe. For example, Theo 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 for the year. As she already has a good income from Read more…