This post is on the BDSM Businesses web board.
| Tue 13 Jan 09, 9:26 PM Penny_Louise 5 yrs |
I need good tax advice with regard to pro-Domme work (like can hair, nails and stockings be offset...), and I need accountable accounts to show income for future business plans. VAT registration looms: I've handled it myself before and I have sworn I'll never do it again.... My accountant will need to have relevant specialist knowledge, or access to it, and this will be a regular arrangement, NOT a freebie to some junior who fancies my legs and dommy attitude. PM please, Lady Alpha Pro-domme, switch and sub. Disciplinary and conventional therapy and life coaching Kinkdom Blog Edited Mon 19 Jan 09, 1:06 PM by Penny_Louise | ||||
| 14 Jan 09, 12:24 AM Lady_Anna_Bradford UK(BD), 5 yrs    |
Hair, nails and stockings - no, sorry  Strap-ons, condoms, cleaning materials, latex catsuit - yes you can. This is a good resource http://www.taxrelief4escorts.co.uk/ Pro-domming is so easy to sort out you can do it yourself quite easily. I do. "If no sexual offence is being committed it seems very odd indeed that there should be an offence for having an image of something which was not an offence," Lord Wallace of Tankerness | ||||
| 15 Jan 09, 2:19 AM harry_lon UK(W), 7 yrs  |
By and large I'd agree with that, but it's not the whole of what the OP appears to be interested in.
On the other hand...
..[edited due to being reminded of a previous vow to never, ever again start discussing tax on an open forum
Of course whether your deductions at stake are big enough to be worth paying a specialist to consider them is a different issue althogether I'll never regret this, ...although I may rue and lament it Edited 15 Jan 09, 2:12 PM by harry_lon | ||||
| 15 Jan 09, 11:07 AM blacksabbath UK(CB), 5 yrs |
It all depends on whether there is "duality of purpose" for each item! If each item can or is used in a personal/private capacity then generally speaking it is not allowable, however you can quite easily argue that (say) 50% of the stockings bought are for "business" purposes and the other 50% for private purposes - or that you don't wear stockings except for "business". The same principles can be applied elsewhere too. HTH | ||||
| 15 Jan 09, 3:22 PM Penny_Louise 5 yrs |
There are two issues: one, I need definitive answers, because if I claim and shouldn't have, I'll have the Tax Office on my back for ever and a day; two, life's too short for spending a few days doing the returns and researching the situation. I'd sooner have a professional put their name to it and take any ensuing flak Lady Alpha
Pro-domme, switch and sub. Disciplinary and conventional therapy and life coaching Kinkdom Blog | ||||
| 15 Jan 09, 9:16 PM MistressGI UK(BH), 6 yrs £ |
This website is realy easy to understand, I was going to post it but MistressLadyAnna beat Me to it. On the paying someone for help, I believe you can save more by paying a person with the relevant knowledge to help.
Lifes a Bitch....Isn't it fun | ||||
| 20 Jan 09, 7:02 PM a_badger UK, 5 yrs |
snipped
This depends, if you are talking about an awful lot of money they may be able to help you. However when the professional in question is only going to apply set criteria to your expenditure to see if it is allowable for tax purposes. Then you can get exactly the same result yourself without paying for the advice. I'd get a good tax guide and look up what criteria have to be met, certain items there will be no issue with at all. For all the ones you are not sure about make a list and add them up in total. If the tax saved if you could claim for all of these is less than the accountants fees there is no point in bothering, don't claim don't go to the accountant and you are better off. If the 'unsures' amount to a kings ransom then it is probably best to seek advice. I think a lot of people are scared at the prospect of tax, there really isn't any need to be. If you really want to pay someone to do it for you though at the end of the day it's your money and your choice.
non a scaphium ut piss in | ||||
| 20 Jan 09, 7:36 PM Lady_Anna_Bradford UK(BD), 5 yrs |
Absolutely but after being quoted anything between £480 and £1200 per annum by robb...er...accountants I decided I'd do it myself. "If no sexual offence is being committed it seems very odd indeed that there should be an offence for having an image of something which was not an offence," Lord Wallace of Tankerness | ||||
| 21 Jan 09, 1:56 AM harry_lon UK(W), 7 yrs |
And there you have the distinction between 'close enough to get by' and knowing what the answer actually is, even assuming there *is* a definitive answer. Going to someone who's had several years training, and continuing annual updating in a variety of commercial disciplines and then bitching about his fees because you* didn't need that expertise is about as sensible as going to a PD in fully equipped chambers and then complaining that she didn't give you her time on the cheap because all you wanted was a bit of spanking and a chat. Just makes you look silly.
Which is only true because in practice most people will not, and need not, encounter anything more than a tiny part of our byzantine and ramshackle tax system.
Bit like going to a PD then *that's a generic you, not you you, obviously I'll never regret this, ...although I may rue and lament it | ||||
| 21 Jan 09, 3:35 PM blacksabbath UK(CB), 5 yrs |
£480 - £ 1200 Jeez. Think I'll jack it in down here and move north!
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| 21 Jan 09, 5:47 PM a_badger UK, 5 yrs |
I don't understand your reply, not sure if you are agreeing disagreeing or trying to point out you know more about this. Whatever it was, my point was with the case in question would the individual get good value from going to a professional. Most likely not, however if knowing this they still wanted to pay for the advice for peace of mind or any other reason it's up to them. I do not get the PD analagy, everything you spend money on is a choice. If you want to stick with it though... and say you had a fetish for being ignored would you get good value from a session with a PD? Probably not you could get that service for free elsewhere, for example by the bar staff in my local pub, so why give the PD £150 for the hour.
non a scaphium ut piss in |
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