6 Things Every Blogger NEEDS to know about taxes

UK Tax Tips for Bloggers

So you've been blogging a while, or maybe you're a new blogger on the scene? Eventually, your thoughts will turn to monetising your blog, I relaunched my blog in March but I've been registered as self-employed for a few years now due to making money via other blogs. As soon as you start making money you need to declare it, this could be through sponsored posts, affiliate links, selling items etc. Does this sound like you? Then you NEED to read these tips before you start to make sure you're all set on the tax front before you start earning. As April is the start of the tax year here in the UK I thought I'd put together my top tips you absolutely need to get started




Yearly Planner for Blogger Tax

1) Register as self-employed

Well, this should be blatantly obvious right? But the first thing you need to do is register as self-employed you'll get your own unique tax reference (UTR) through the post and then you're pretty much good to go. If you do have any questions before you register then definitely ring the self-assessment helpline - they're super helpful and helped me figure out how it would affect my tax and NI in my full-time job

2) Keep accurate records

This is absolutely crucial to make it as simple as possible, as soon as you register as self-employed you need to start tracking all your incomings and outgoings (these can be expensed). You could hire an accountant to help with this or make your own version on excel - I have a blogger taxes spreadsheet from Kona Seven who I highly recommend

3) Learn about expenses - what you can and can't expense

Blogging obviously incurs some expenses so it's important to keep a track of anything that's associated with your blog, for example, your blog theme, tool subscriptions (Tailwind, buffer, Hootsuite etc.), Paypal fees and a proportion of your electricity etc. However other things can't be expensed such as client entertaining, items you'll use again such as clothes etc.

4) Monetize your blog 

Now you have a handle on expenses it's time to kick ass and make lots of money! There are so many ways to monetize your blog so get out there and explore - my favourite ways are through sponsored posts, affiliate marketing and Google Adsense. But the possibilities are endless, You can make products, sell them, run courses let your imagination run wild

5) Organise your emails!

Once you've started monetizing it's crucial just like keeping accurate records that you have a good organisation system in place, this can save you a whole heap of time at assessment time. It means you'll have all your invoices, receipts and blog discussions saved by month making it easier to decipher and find things if needed 

6) Always pay attention

Taxes change a lot, allowances and what can be expensed etc. so keep up to date with current affairs and chat to other people in the blogging /self-employed community you're all in the same boat so don't be scared to have a chat about taxes, they don't have to be confusing

Blogger Tax Tips


What self-employed tax questions do you have?

6 comments

  1. This post has come at a great point in my blogging journey (i.e. I'm just thinking about monetising), so thank you! I also really like how light and positive you kept it - I don't feel intimidated, I feel helped :)

    ReplyDelete
  2. This was such a helpful post! It's nothing something that effects me right now at the minute but I do want to start monetising my blog so it will definitely be something I might need in the future! :)
    Chantelle
    xoxo
    https://thatyorkshiregirlchantelle.com

    ReplyDelete
    Replies
    1. I think people make it sound super confusing but it's pretty simple to get started

      Delete
  3. This is really useful. Expenses is something I need to get my head around more!

    ReplyDelete
    Replies
    1. It's definitely something to look into you can definitely claim back so much

      Delete

Hey thanks for stopping by! I appreciate all comments and feedback