Tax return 2014/15 - the deadline approaches

The header of the HMRC short form tax for people with income from self-employment in 2014-15

UK Tax Returns 2014-15 - deadline 31 January 2016

Artists in the UK who are just now remembering they need to complete their Self-Assessment tax returns for their self-employed income by 31 January may find my Tax Tips for Artists page useful.

This includes three sections of particular relevance to UK artists:

• Tax Tips by artists for artists
• A hobby or a business?
• Tax in the UK and the HMRC

Digital Tax accounts and quarterly reporting

Tax Tips for Artists has recently been updated with some outline information about the proposed new digital tax account and quarterly reporting for all those having a turnover in excess of £10,000 p.a.  

Making tax digital (pdf) is the formal paper setting out what changes the government proposes to introduce and how it will work. ​Consultation on the proposals is occurring at present so nothing as yet is set in stone.

I'll be writing more about ​this in future.

If you want to stay in touch with updates about art business matters generally and digital tax accounting and quarterly reporting in particular please subscribe to this blog.