You cannot act your way out of a tax return but you can make it easy.
IQ Accounts is designed to make your life easy so you can concentrate on being fabulous. You can access it on the internet from anywhere so you are only a few clicks away from the information you need. Take a look at some of the features that will be useful to you as an actor:-
- Keep track of your auditions and appointments with the built in calendar.
- Create each place you act (i.e. theatre company) as a client, then create each play as a project and you will be able to manage everything you do from here.
- Keep an online record of all of your contacts so you will never lose them and they will be available to you from anywhere.
- It is too easy to buy something for your acting and forget to claim for it. Use IQ Accounts to log all of your expenses and it will give you all the information you need when filling in your tax return.
- Log all of your invoices into IQ Accounts and keep track of the money you are earning.
- View charts showing a comparison of your income against your expenses.
- You can even promote your new play on the message board!
Allowable expenses for actors (What you can claim for)
As an actor you will incur few expenses in the course of your work. Most contracts require the production company to supply costumes, wigs, hairdressers etc for the role. You are however able to claim for some things that other self-employed people cannot. Below is a list of some of the things you can claim for:-
- Clothing
The cost of clothing acquired for a film, stage or TV performance is allowable. However it must be used solely for the purpose of the performance and not be considered 'everyday clothing'. - Visits to the cinema
If you are going to the cinema to research a role and you can directly relate that visit to the cinema as being relevant to a particular role then you can claim this as an expense. - Hair dressing
If you are getting your hair done specifically for a role then you are able to claim this as an expense.