While it’s true that most accountants and social media influencers may not seem to have much in common, MyTaxDoc is not your typical accounting firm. Our business was established through social media and networking, and
we continue to have a strong presence there. Therefore, we have a deep understanding of the industry and the specific financial management needs of influencers.

As an online content creator, if you are struggling to get your tax and accounts in order, look no further than MyTaxDoc. Our team of experts will handle the tedious number-crunching, paper-pushing, and tax returns, freeing you to focus on expanding your platforms.

What is the importance of influencers having accountants?

In today’s digital age, influencers are often adept at identifying multiple revenue streams and making money online. However, managing the accounting and finances of this newfound wealth can quickly become a tedious task.
As the industry is still relatively new, the regulations around what an influencer must declare in their annual return can be confusing. Failing to understand how to account for earnings and meet VAT and tax obligations can result in costly penalties. A knowledgeable accountant can help ensure meticulous bookkeeping, maintain compliance, and offer valuable tax advice to minimize your tax burden.
If you’re struggling to keep up with your finances or feeling overwhelmed by tax terminology, don’t worry. MyTaxDoc specialises in providing expert accountancy services to influencers. With a deep understanding of the influencer market, we can help simplify your finances and support your business goals for the future.

How can influencer accountants help your business thrive?

While it may seem like an unnecessary expense, investing in accountancy services can yield significant results for digital entrepreneurs. Expert accountants can provide valuable advice and support to self-employed content creators, improving cash flow and maximizing profits.
At MyTaxDoc, we understand the importance of time management and offer simple solutions to ensure your accounts are secure and up-to-date, freeing you to focus on growing your
business. Let us help you achieve your business goals and take your influencer career to the next level.

Eliminate time-consuming accounting tasks and reduce the stress of dealing with tax regulations with our services.

As a business owner, your time is valuable, and managing financial records and navigating tax laws can be frustrating. Our team will handle the daily routine tasks such as tracking expenses and organising receipts, as well as larger tasks like preparing yearly tax returns, freeing you up to focus on growing your business.

Prevent Penalties

Being a business owner involves many legal responsibilities, and as a content creator, it’s easy to get caught up in creating content and overlook the importance of managing your finances. However, you don’t want to end up paying hefty fines for non-compliance. Our team will help you avoid any unwanted penalties by ensuring that your tax returns are accurately prepared and submitted on time to HMRC.

Maximize your profits

At MyTaxDoc, we have a deep understanding of how online content creators generate their income, and we can offer you valuable advice on how to become more tax efficient. By helping you manage your costs more effectively and ensuring that you receive all the tax deductions that you are entitled to, we can help you keep more of your hard-earned money.

We offer a comprehensive range of accountant services specifically designed for social media influencers.

At MyTaxDoc our goal is to help you maintain streamlined, effective, and stress-free accounts.

Bookkeeping

Keeping track of finances and maintaining books is not everyone’s cup of tea. However, ignoring it can lead to a huge mess while filing annual returns. Fortunately, at MyTaxDoc, we find bookkeeping quite enjoyable (no judgments here). We will take care of logging all expenses, invoices, and receipts, and ensure that your accounts are regularly maintained. You can focus on your business and have peace of mind knowing that your accounts are always up-to-date.

VAT advice

High-earning influencers can generate a significant turnover, making it crucial to keep track of the income threshold for VAT payments. At MyTaxDoc, we can assist you in maximizing your VAT benefits and avoiding overpayment. Additionally, we can identify any advantageous schemes that you may be eligible for.

Cloud Accounting software

Our clients in the influencer industry are undoubtedly tech-savvy and appreciate the advantages of using cloud-based accounting systems. At
MyTaxDoc, we strongly support accounting software and therefore provide all our clients with access to such software.

Tax advice

If you’re an influencer and you earn more than £1,000 within a single tax year, then you must complete an annual tax return. Once your earnings reach £12,570 (which includes some gifts you may receive), then you will need to start paying taxes.
We understand that taxes can be overwhelming, especially if you’re new to the process. But worry not, as our team at MyTaxDoc is here to assist you in accurately calculating your income, ensuring that you’re compliant with regulations, and potentially even finding ways to save you money.

Tax returns for influencers

If the thought of filling out a “self assessment tax return” causes anxiety, don’t worry, we’re here to help. Tax laws can be complex, especially for social media influencers who have a unique income structure. But that’s where our expertise comes in.
We’ll guide you through the regulations and calculate your taxable income, which includes income from gifts, appearance fees, advertising fees, royalties, and e-commerce. Our goal is to make the process of submitting your annual tax return stress-free, allowing you to concentrate on your business. So let us handle the nitty-gritty details and you can breathe easy knowing your taxes are taken care of.

Tax write-offs for social media influencers

As a self-employed influencer, it’s crucial to understand your tax obligations, but it’s equally important to avoid overpaying taxes.
At MyTaxDoc, we provide valuable advice on claiming business expenses that you incur in the course of your work. By maximising your deductions, we can help you keep more of your hard-earned money.

What are the expenses that influencers can claim?

As an online content creator, running your influencer business can be quite costly. Fortunately, you can claim tax deductions on certain expenses as long as they were incurred for business purposes. Some of the expenses you can claim include:

• Equipment such as cameras, lighting, and laptops.
• Software tools such as photo editing software and e-commerce software.
• Working from home expenses, such as increased electric bills.
• Marketing expenses, such as paid advertising.
• Office costs, including rent and furniture.
• Travel expenses for work engagements, such as airfare, train tickets, and fuel.

Reasons Influencers Choose MyTaxDoc

As a relatively new profession, not everyone understands the unique financial and business needs of influencers, bloggers, and vloggers. At MyTaxDoc, we recognise the hard work and expertise required to run a content creation business, and we’re dedicated to helping you keep your finances simple, so you can focus on conquering the online world.

MyTaxDoc is the ultimate accounting partner for influencers.

Our expertise in social media combined with our specialist knowledge in accounting makes us the perfect choice for influencers. We understand the unique challenges and requirements of running a content creation business and we’re here to simplify your finances so that you can focus on building your brand.
We offer a comprehensive range of services including bookkeeping and cloud accounting, and provide tailored advice that’s specific to your industry. Our influencer accountancy services are affordable with fixed monthly payments so that you’re always in control of your budget.
We pride ourselves on being approachable, communicative and building strong relationships with our clients. Our team is professional yet friendly, and we genuinely care about your business success. We’re here to make your life easier and maybe even share some social media tips along the way.
Contact

Contact MyTaxDoc

Are you ready to simplify your finances? Get in touch with MyTaxDoc today and one of our experienced influencer accountants will reach out to discuss how we can assist your business.

Stay connected with us by following our LinkedIn page.
Don’t just take our word for it, check out our outstanding reviews from satisfied clients.

Reviews

My Tax Doc is rated 5 out of 5 based on 110 reviews on Google.

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