You can feel it in the air! January is always a tense time for the self-employed — it’s tax time so here’s some information on accounting for bloggers.
The deadline for sending your Self Assessment tax return to HM Revenue and Customs (HMRC) is midnight 31st January so if you haven’t already done so, set aside some time this month — sooner rather than later to deal with it!
With more and more bloggers earning from their blogs, many of us are familiar with the process but as a refresher or for the people completing their self assessment for the first time, here is some advice that you may find useful.
Note: Some of these pieces quote numbers that are no longer up-to-date but the principles remain the same.
- Accounting overview, from BritMums Live
- Accounting for Bloggers: Payment in kind
- Accounting for Bloggers: What income do I need to declare?
- Accounting for Bloggers: Working from home
- Accounting for Bloggers: What expenses are tax deductible?
- Accounting for Bloggers: Trade or Hobby?
- A comprehensive guide to blogging and tax
Good luck with it all and remember, once it’s done, it’s done!