Online accounting software for creators, influencers and streamers

Both full-time and growing content creators need to register as self-employed with HMRC. If you’re making money as a content creator, you need to pay tax on the income you’ve earned.

The amount you’ll need to pay will depend on how much your income is and how much of the tax-free Personal Allowance you may have. The starting point is £12,570 (as per the 2022/23 tax year) but will depend on many factors personal to your circumstances.

As a content creator, you can also claim certain expenses for your daily work. This will help to reduce your taxable income, leaving you with a lower annual tax bill.

You may be able to claim expenses against things like:

• Equipment (cameras, computers, phones etc)
• Non-gifted products that you bought to review
• Travel expenses, including mileage
• Phone & broadband bills
• Website expenditures
• Marketing costs
• Related training/courses
• Subscriptions (stock photographs, premium apps etc)

You may also be eligible for income tax relief, depending on your circumstances.

See how QuickBooks’ simple, smart accounting software can help you take control of your business finances.

Self Assessment is a system HMRC uses to collect Income Tax.

Did you earn more than £1000 for work like brand deals, ad revenue and merchandise sales? That’s great news. But you’ll need to be ready to file a Self Assessment return. QuickBooks can help.

You’ll need to send a Self Assessment tax return if, in the last tax year (6 April to 5 April) any of the following applied:

• you have earned more than £1,000 from work outside of being an employee for a company e.g. you have income as a self-employed sole trader (before taking off anything you can claim tax relief on)
• you were a partner in a business partnership
• you earned £100,000 or more

You may also need to send a tax return if you have any untaxed income, such as:

• some COVID-19 grant or support payments
• money from renting out a property
• tips and commission
• income from savings, investments and dividends
• foreign income

Find how QuickBooks can help you complete your Self Assessment.

The deadlines for paying your Self Assessment tax bill are usually:

• 31 January - for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account
• 31 July for your second payment on account

Make sure you pay HMRC by the deadline. You’ll be charged interest and may have to pay a penalty if your payment is late.

See how QuickBooks can help you get prepared for Self Assessment.

From choosing your social handle to tracking your income and getting paid by brands, there’s a lot to think about during your first year as a content creator.

Thankfully, we’ve pulled together this handy guide to help you make the best possible start.

While some platforms pay you directly for creating content, chances are you’ll need to send an invoice to get paid sooner rather than later.

A content creator invoice should include your full (legal) name, and company name if you are trading as a limited company rather than as a sole trader. You’ll also need to include a valid mailing address (this could be your home address if you create content at home).

The invoice should also include:

Client name – The full name of the client or company, whether that’s advertising partners or clients, that have asked you to produce content for them.

Payment terms – Include the date the invoice was sent, an invoice number and various potential payment methods. Most importantly, include your payment terms. You should agree beforehand what the payment terms are. A typical payment term is 30 days.

Line items – This is where you’ll list each piece of paid content, who’s paying for it and what specifically they’re paying for (including usage rights). This will differ depending on the platform(s) you’re using but each sponsored post would be listed as a separate line item.

Contact information – Give your client a personal email address to contact you on.

Remember to double-check all of the information before sending the invoice. Once it’s sent, it could immediately be put into processing for payment.

With QuickBooks, you can send branded invoices featuring your own company name and logo. Automatic tracking, reminders and real-time alerts mean no more chasing late payments.

You can also set up faster payments with QuickBooks’ partners including PayPal and GoCardless and save hours on admin.

Using simple, smart accounting software like QuickBooks can help you make good decisions from day one.

It saves you time on your financial admin, so you can focus on what matters—creating content and growing your following on platforms like Instagram, TikTok and YouTube.