Self Employment lecture

Within carolynes lecture on Self employment and taxing we discussed what a self employed artist can and can't claim for as their own expenses within the industry as well as programmes and entitlements we may be able to partake in. Below are also hand outs available on my aub which supported the lecture!

Some of the main points outlined that as an artist I may be able to claim for are listed below;

• The money I pay to start and continue my business
• Petrol and car insurance - not mentioning the entertainment industry to make myself eligible
• Insurance for my kit and also public liability to work on peoples faces - BECTU provide this
• The price of my car, this is dependant - range rovers need not apply.
• Anything to do with my car - new tyres, mot etc - this keeps my business running!
• Any accountant fees
• Makeup products for kit 
• Laptops filing cabinets etc that help business run - stamps paper ink...
• Accomadation on jobs
• Bank account with overdraft fees etc also can be claimed.

Other things covered within the lecture also;

• VAT - if my turnover is over £64000 a year look at GST
• Every receipt must be kept for 6 years or claim is void.
• Putting receipt details on excel weekly monthly basis helps organisation
• Accountants cost money - if a family member or I can complete it will save a lot!
• Mobile phone bill can also be claimed at 25% personal use and 75% business use.
• Portions of household bills can also often be claimed - usually one fifth - if business runs from home in a room for example.
• Invoices need the same branding header as my website and business card
• Consistently knowing industry rates on BECTU helps develop myself as an artist.
• Finding out on jobs exactly what is paid for - food travel accommodation etc helps 
• Take deposit of 20% for brides on wedding trial days
• 4 weeks after invoice is issued if payment isn't received send court letter - scaremongering.

The lecture really helped me find my feet after uni and has prompted me to prepare invoices and also look into insurance and public liability commencement after studies.