UK Bloggers And Tax | How To Calculate Taxes as a Self-Employed Content Creator in England?

[@trishtrish2349]

I needed this info. thanks for sharing the knowledge.

[@teex5380]

Question if you have made 1k this month when do I have to register as self employed and do my taxes?

[@TheSheApproach]

The threshold is £1k per year, not per month. When you reach that you have to register via the GOV website as self-employed and declare the exact income. You do have time to do so, as you usually don't need to file in a tax report for another year. For example 2022/23 self assessment tax returns to HMRC are due 31 January 2024.

[@getawaygeese]

Thanks for this if it’s a brand account is it just the primary owner that is liable ie not any secondary owner

[@TheSheApproach]

What kind of account are you referring to? If the income is shared, both account holders need to report individually.

[@kaxar6954]

I just started a WP site and have affiliate links but not earning more than £1000. Right now it's just a hobby. Would you suggest I register as a sole trader now?

[@TheSheApproach]

You don't have to until you earn £1,000 per year. If you don't estimate earning that just yet, you can hold off. After that, it might be worth it to join early, as you can also declare expenses, and claim loses from previous years - meaning you will pay less tax in the future if you start earning over. No rush to register, but keep accounts of your expenses and earnings from now just to be sure! I have a tracker for this that comes with a £ sheet > thesheapproach.com/blogging-income-tracker-template/.

[@Bomi-sakura]

Does this also apply to money earned through affiliate marketing?

[@TheSheApproach]

Yes, you still need to declare that if it goes over the £1,000 per year threshold.

[@RickyImpey]

Great explanation thanks. What's your take on the tax on free products? Everything I read suggests that anything 'free' is treated as income and therefore taxable. If this is the case then there must be a way to show it as an expense through some kind of marketing. I can't find anything about that side of things though.

[@TheSheApproach]

Hi Ricky. Great question! Because of my niche, I don't receive free physical products. But that was my understanding as well - that you declare the value of the free product, or income you receive if you end up selling that product. But I advise clarifying this with a tax professional.

[@speak20]

Thank you Ana. Do you have video on insurances UK content creators need to run their KZbin/ content creating business?

[@TheSheApproach]

I don't, but I'll add that to the list. Are you looking for something in particular when it comes to that?

[@speak20]

@@TheSheApproach anything to do with setting up a KZbin business in the uk from business set up/ insurance/ running the channel/ selling products. Setting up a blog/ social media. Finances. All topics are fantastic. Thank you ❤️❤️❤️

[@lisawalton4667]

Thank you this was super helpful 😃

[@TheSheApproach]

I'm so glad! Thanks for watching, Lisa!

[@JustCommenMan]

Hay ana, iam struggling to create a theme in my WordPress. For Amazon affliete I don't know how to add the astra theme ? Comparison table ? Check here button ? Can you make a video for these three topic

[@TheSheApproach]

Added them to the list! The Astra website has a bunch of tutorials, and you can also contact their support team if you need help setting it up: thesheapproach.com/astra. I've done one video on comparison tables here > kzbin.info/www/bejne/h3-bkotsp9iUqJY&ab_channel=Ana-TheSheApproach. Additionally, the Lasso plugin also just came out with a comparison table feature: thesheapproach.com/lasso The click here button is just normal text, hyperlinked it. Let me know if you have any follow-up questions.

[@reabo]

Do you know how this works if you want to put money into a sipp?

[@TheSheApproach]

It looks that way, but I would run it by an accountant first. www.ii.co.uk/ii-accounts/sipp/self-assessment-tax-return-guide

[@krish7307]

Hi Ana, brilliant video! I have just started a podcast, I have a fairly solid following on Instagram but I am wondering how I could monetise my content on a platform like Patreon? But I was wondering if that would work because in from the UK or if you knew any platforms that was similar to this, that I could use? Thank you!! Keep up the great work😁🙌🏽

[@TheSheApproach]

Hi Krish! Patreon seems to be a good option if you have a membership-like offer. But it really depends on it and your audience. I personally use www.thesheapproach.com/thrive to sell my digital products and coaching services, and it allows you to both host courses and set up memberships, without paying any monthly fees or a cut of the sales. And I funnel students in via my email list (which is free to join) and free content. But again - this heavily depends on what kind of content you have, how you format it and what you're looking for from a platform.

[@P3ACHx]

Thanks 🙌🏽🙌🏽 off to do my taxes - would love more videos on this subject tho

[@TheSheApproach]

So glad this was helpful! And thank you for the suggestion. Anything in particular that you'd like to learn about?

[@Itsmerveille]

Hi Ana, I have a question, I need to know something.. I started influencer aside my full time job but I’m not sure if I still should register as a sole trader as I haven’t earned a lot so far just £100 so far but I currently registered for affiliates and could start earning more.. how do I solve this? 🥵

[@TheSheApproach]

You can wait to register until you earn at least £1,000 with those side-hustles combined. And even then, you are given nearly 2 years to complete that. So just keep track of everything you earn. You will have time to submit it once you pass the threashold.

[@speak20]

Thank you ❤

[@Beverleytheslayest]

Hi Ana, I started my blogging business a year ago, even though I haven't made a dime from my business yet, I've registered to HMRC, would I still get penalised if I don't declare even though I haven't made any earnings yet? Kind regards, Beverley :)

[@TheSheApproach]

Hi Beverley, You do need to fill out your assessment reports yearly, even if you don't earn anything. It's probably best to do so if you've spent money getting your blog up, as you can claim tax relief the following year. But they should send you a letter to let you know when you need to fill out that & your deadline. Because if you registered last year, you might not need to submit anything until next year, as the financial year goes April to April. You basically get a little more time with your first assessment, so I don't think you'll get penalised. Log into your HMRC account to be sure and check your letters/documents on there.

[@Beverleytheslayest]

Sorry for the late reply, I thought I replied. Thankyou much appreciated Ana :)

[@claudzgaff2027]

Thank you for this

[@ThandiSambs]

Thank you.

[@TheWealthUniversityOfficial]

if you make a lot of money highly recommend you move to the UAE or get a residency and get paid no taxes you only have to stay there 2x a year live the rest paying rent somewhere cheaper