Self Assessment Tax Return For Artists
Throw out that paper and go digital with 1tap and Boom! Accounts. We're the perfect team to prepare and submit self-employed tax returns for artists.
As a self-employed Artist, running your business can involve a range of expenses such as materials and equipment, studio rent, advertising and so on. It can therefore be difficult to know which expenses you can and can’t claim, making completing your Self-Assessment and Tax Return confusing and time-consuming.
Using 1tap and Boom! Accounts, your Self-Assessment and Tax Return are checked and processed accurately and efficiently so that you never miss another tax deduction.
With the 1tap app, you can photograph or upload your receipts in real time. 1tap then extracts the key information from each receipt such as amounts, dates, categories and supplier and categorises each item according to HMRC categorisation. This way 1tap can manage all your expenses for you so that completing your Self-Assessment is easier and much less time-consuming.
All your data and receipts are stored using secure cloud storage, meaning you’ll never lose a receipt again.
1tap then shares your receipts and data with the Boom! Accounts team who check that all your expenses are correctly entered and categorised before completing your Tax Return for you. As you will be uploading your receipts in real time using the 1tap app, the Boom! Accounts team can complete your tax return anytime from the 6th April.
Any expenses that you incur which are purely for your work are tax deductible. Examples of expenses you can claim are art materials, studio rent, consumable equipment, art courses attended, insurance, repairs and replacement of equipment, computer used for work, professional magazines and books, business use of phone, advertising and use of home as office/studio.
For advice on what expenses you can and can’t claim on your tax return as a Self-employed Artist you can read our blog post on self-employed artist tax deductible expenses.