Tax
Professionals in the creative media industries are employed under a wide variety of contracts and terms and conditions - employee, casual, freelance, self-employed etc. Each type of employment has different implications for your rights, your tax status and the type of deductions you can make.
Employed or self-employed?
Some people may be part employed and part self-employed as they cross sectors, or they may supplement their income with work in an entirely different sector. There are HM Revenue & Customs guidelines on who is considered self-employed and who is considered employed. These are not set in stone - you can challenge the HMRC decision and ask for a review of your tax status.
Trade unions and associations can also offer advice on employment rights. BECTU provides members with a Freelance Tax Guide. This includes advice on the general criteria for deciding on your employment status. There is also a list of accepted Schedule D grades for the broadcasting and film industries.
Limited companies
If you intend to start up as a limited company, you'll need advice on tax matters. Have a look at ‘I want to set up as a limited company' on the HMRC website. You will also need to employ an accountant to draw up your annual accounts and to advise you further.
