What Are Allowable Expenses?

One of the easiest ways to reduce your tax bill is by claiming business expenses—but many influencers miss out on this opportunity. HMRC allows you to deduct expenses that are “wholly and exclusively” for business purposes, which can significantly lower your taxable income.

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Examples of Deductible Expenses

For example, equipment like cameras, lighting, and microphones, as well as editing software subscriptions, are typically deductible. Travel expenses related to content creation, such as attending events or filming at locations, can also be claimed. If you work from home, you can deduct a portion of your household costs, such as utilities and internet. Even costs for outsourced services, like hiring a photographer or video editor, can be included.

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Fintara’s Expertise in Expense Management

At Fintara, we make claiming expenses straightforward. We’ll guide you through the process of identifying allowable expenses, ensuring you don’t leave money on the table. Our expertise helps you maximize your earnings while staying compliant with HMRC’s regulations.

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Get in touch with Fintara today to ensure you’re claiming every deduction you’re entitled to.