Do I need to tell HMRC?
HMRC gives everyone a £1,000 trading allowance each tax year. If your gross income from all self-employment is below that, you generally do not need to tell HMRC about it. Above it, you usually need to register for Self Assessment. See HMRC’s guidance on tax-free trading allowances (external site).
When do I need to register?
You must register for Self Assessment by 5 October after the end of the tax year in which you started trading. The UK tax year runs from 6 April to 5 April. HMRC explains how on its register for Self Assessment (external site) page.
Key deadlines
- 5 October: register for Self Assessment, if you started trading in the previous tax year.
- 31 January: file your online tax return and pay any tax owed for the previous tax year.
- 31 July: second payment on account, if HMRC asks you to make them.
HMRC lists these on its Self Assessment deadlines (external site) page.
What expenses can I claim?
You pay tax on profit, not on everything you earn. Costs that are wholly and exclusively for your creator business can usually be deducted, for example equipment, props and outfits used only for content, editing software and a share of phone and internet bills. Agency commission is normally a business cost too.
You can claim either your actual expenses or the £1,000 trading allowance, not both. HMRC’s guide to expenses if you are self-employed (external site) sets out what counts. [NEEDS HUMAN SIGN-OFF: examples of allowable expenses]
What about VAT and Making Tax Digital?
You must register for VAT if your taxable turnover goes over the registration threshold, currently £90,000 in a rolling 12-month period (VAT registration on GOV.UK (external site)). How VAT applies to platform income can be complex, so take professional advice if you are near the threshold.
Making Tax Digital for Income Tax requires some self-employed people to keep digital records and send quarterly updates, starting with those whose income is over £50,000. [VERIFY: current MTD thresholds and dates on gov.uk]
Keep good records from day one
- Download your platform earnings statements every month.
- Keep receipts for everything you claim as an expense.
- Use a separate bank account for creator income if you can.
- Set aside a share of each payout for tax so the January bill is not a shock.
Sources
- tax-free trading allowances (gov.uk)
- register for Self Assessment (gov.uk)
- Self Assessment deadlines (gov.uk)
- expenses if you are self-employed (gov.uk)
- VAT registration on GOV.UK (gov.uk)
This guide is general information, not legal, tax or financial advice. Platform features and rules change, so check your platform’s current terms. Last checked .
