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Self employed cashbook and tax calculation template 2020/21
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Hello - I'm SJ Watkinson, an independent producer based in Birmingham - more about what I do here:
www.outercirclearts.co.uk
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This spreadsheet is free to use but you need to download and save it first - you can find download options in the file menu.
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You cannot edit this online version as I have locked access to stop people accidentally altering it or uploading personal information.
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Please do not send me requests for access - you are free to download it.
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Feedback is very welcome as I'd like this to be as useful as possible - I've tried to keep it simple and also generic so that people can adapt it to their particular needs.
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I've included a bit onto the calculation for people who have some of their earnings through employment and therefore might already pay some tax through PAYE.
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The calculation is just for tax/NI due within this year so doesn't include any payments on account to HMRC
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I am a producer, not an accountant so I can't answer specific questions about your own tax return
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LINK TO TEMPLATE FOR 2019/20:
http://bit.ly/Tax_2019_20
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There are lots of places to get help and guidance:
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There is general guidance here:
https://www.gov.uk/expenses-if-youre-self-employed
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If you're in BECTU, you can access more detailed & specific guidance here:
https://www.bectu.org.uk/advice-resources/tax-guide
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Guidance on what you can claim as capital items:
https://www.gov.uk/capital-allowances
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If you're in Equity, there's info in their members only section:
https://www.equity.org.uk/members-area/
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The Musicians Union has this very helpful guide to the sort of expenses you can claim on their website:
https://www.musiciansunion.org.uk/Home/Advice/Your-Career/Tax/Claiming-Expenses
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If you're not in a union, join one - you get dead cheap public liability insurance and loads of other benefits
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Marriage allowance - if you are married/in a civil partnership & your total earnings are below £12,500, you can transfer part of your tax allowance to your spouse/partner:
https://www.gov.uk/marriage-allowance
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HMRC adjustments - if you have PAYE and self employed earnings, your contributions may be adjusted by HMRC for Class 1 NI already paid - these will be outlined in your tax calculation when you complete your tax return
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Don't be scared of HMRC - they've always been helpful when I've had to ring them and their online guidance is quite clear and comprehensive:
https://www.gov.uk/working-for-yourself
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This spreadsheet is free to use, but if you'd like to do something nice in return, please consider making a donation to these people:
https://www.justgiving.com/sifafireside
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