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did wonder if I could be cheeky and count records as a work expense. Should I ideally be separating these two lines of work if I wanted to do that
Probably one for the tax returns thread
can I get away with it?
You can get away with almost anything if your total activity is small enough to be the subject of a two line tax return and your revenue:expense ratio is within a couple of standard deviations of the median for the kind of activity you say you're doing.
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From recollection, I know years ago the DJs I worked with claimed records as an expense. From the business perspective they are consumables as they go out of date / fashion, I think was the argument. I think their returns were solely for the DJ work though
gbj_tester
andyfallsoff
@AlexD
Freelancey tax question:
I'm a freelance designer. I also do the odd bit of Djing here and there. The places I DJ at require me to invoice them, which im doing through my usual invoice system, for convenience. It's not that much per month and I can't see it making much of a difference to my tax bill, but I did wonder if I could be cheeky and count records as a work expense. Should I ideally be separating these two lines of work if I wanted to do that (not worth it) or can I get away with it?