Mistake 1: Failing to Register as Self-Employed

Many creators don’t realize that earning income from sponsorships or affiliate deals qualifies them as a business in the eyes of HMRC. Failing to register could result in fines and penalties.

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Mistake 2: Poor Record-Keeping

Keeping track of income and expenses is vital for compliance and tax efficiency, yet many creators rely on disorganized spreadsheets or no system at all. This often leads to missed deductions and errors in tax returns.

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Mistake 3: Underestimating Tax Liabilities

Irregular income makes it challenging to estimate how much tax to save. Creators often don’t set aside enough money to cover payments on account, leading to cash flow issues.

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Mistake 4: Relying on a Generalist Accountant

Generalist accountants may not understand the nuances of influencer income, leaving money on the table through missed tax-saving opportunities.

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How Fintara Can Help

Fintara is here to help you avoid these mistakes. We provide tailored financial services designed for influencers and creators, including expert tax advice, detailed bookkeeping, and ongoing support to ensure compliance.

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Let Fintara help you take control of your finances—contact us today to get started.