Most musicians will need to register as self-employed. This means telling HM Revenue and Customs (HMRC) that you are a ‘sole trader’ and following certain rules about recording your earnings and expenses so that you can pay the right amount of tax.
There is plenty of practical advice on the web about becoming self-employed. The UK Government has an introductory guide on how to get set up as self-employed. You can also visit HMRC’s website for more detailed information about ‘Starting in Business’.
The Creative Entrepreneurs Club offers a specialist business support and development service for creative businesses and practitioners.
HW Fisher & Company chartered accountants provide a specialist tax guide for musicians (updated annually) which can be downloaded for free from their website. This includes guidance on record keeping and allowable professional expenses.
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