Musicians’ Allowable Expenses – 16/03/2021

Musicians may struggle to be aware of the Allowable Expenses you are entitled to, so we have outlined a few for you here.

Trying to transform your hobby into a source of income is by no means easy – throw in tax and finances and it seems near impossible. While the Entertainment Sector is a confusing one to master, we have made it easier for you.

Allowable Expenses for Musicians:

  • Travel Expenses

The cost of travelling to concerts to perform or to pupils’ homes to teach can be claimed – you can claim £0.45 on your first 10,000 miles and £0.25 after that.

  • Home Office

If part of your home is used solely for carrying out your business e.g.: invoicing, quoting, writing etc. you can claim a proportion of your home insurance, rents, repairs/maintenance, and council tax as well as part of your heating, light and power costs.

  • Performance/Rehearsal Venue

You can claim the costs of hiring premises e.g.: studio, hall, theatre etc. for your music on your tax return.

  • Mobile/Internet Costs

If you use the internet to find work or anything work-related, you can claim this on your tax return, as well as the costs of using your mobile phone to answer calls or send emails.

  • Repairs/Maintenance

The cost of repairing/tuning instruments used in your work can be claimed, as well as the insurance costs.

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The Entertainment Sector can be a confusing area of work – especially if it is your full-time career. Knowing how to take control of your time and money while still adhering to HMRC rules can be a tedious task.

Our Director Andrea L Richards has written an E-Book on the most common mistakes made by Entertainers and expert advice on how to avoid and overcome them. 

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