Blogging for a living sounds like a dream, and after fifteen years of this lifestyle, I’ll admit it does have its advantages Sitting in a coffee shop snapping pics for Instagram, with maybe some money trickling in from ads, affiliate links or sponsored posts, once you build up a following.
However, while many bloggers can and do earn a living via their blogs, its not all pretty pictures and pleasant words. Once you start generating money, reality kicks in, and suddenly you’re knee deep in invoices, self-assessment forms and tackling your payments. And before long, you’re confused over tracking your expenses, wondering whether that sandwich in Costa can be put on expenses, and how exactly you’re supposed to turn an irregular payment schedule into a living wage for you.
And then tax return season arrives, and you have to figure it out, and if you haven’t seen a tax return before, the government goes out of their way to make it seem really complicated…
I’m lucky enough that I was an accountant before I started blogging, and so I am confident enough to complete my own tax return, although I will admit it is a chore that I put off until the last minute every year. I can’t really justify hiring an accountant for my own business, but I would recommend one for anyone who is newly self-employed, whether through blogging or any other small business venture.
Easier Dealings with HMRC
Tax still needs to be paid even if you’re chasing invoices and clients are giving you the runaround. You need to make sure that you’re registered for self-assessment, you log every penny in and out, and that you file on time. Even if you are not making a profit, you need tol decide whether or not to pay voluntary National Insurance payments, which , at the time of writing still go towards receiving a full state pension when you get to that advanced age.
And yeah, those first few years can be overwhelming, especially with the new Make Tax Digital rules rolling in over the next few years. Accountants like WR Partners know what they are doing so that they can keep you on track and on schedule.
What You Can Actually Claim for
Accountants take the guesswork out of what you can claim. They will give you accurate deductions and avoid any issues should you get audited. Can you expense your new laptop? Or is photo editing software something you can claim back? And how much of your electricity bill can you claim for when working from the kitchen table? All fair questions and accounts will know exactly what you can and can’t get away with, and help to ensure you are only declaring your valid expenses and nothing else.
Less Stress, More Content
You didn’t sign up for this paperwork; you just wanted to write blogs and post pretty images on Instagram. But now, here you are, knee deep in receipts, having flashbacks to year 9 maths, and your stress level is through the roof, and no amount of wine is helping. By working with expert accountants, you can more easily handle this pressure or manage your accounts and put your energy where you need to. All you need to do is remember to keep all of your expenses in order, and they can take care of the rest.
More Professional
There are all sorts of risks of not paying your taxes on time, and if you’re employing an accountant, you can be smug enough to feel like you’re actually a professional business and not just an imposter. This is especially important for you if you’re looking to take out a mortgage because PayPal screenshots just won’t cut the mustard.
Proper accounts verified and stored correctly and filed on time with HMRC can be the difference between gaining credit for things like car purchases or even scaling what you do. Because at some point, you might find that these days you’re not just a blogger, but also your own boss, and you have money coming in from different sources, ie you also moonlight as a freelance writer in your spare time too.
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