Whether you paint, sculpt, film, design, or craft, being an artist in the UK isn’t just about imagination—it’s also about being financially savvy. At Creative & Numbers, we understand that spreadsheets and tax returns might not feel as thrilling as sketchbooks or storyboards. But when it comes to building a sustainable creative career, knowing your numbers is essential.
In this blog, we break down the basics of accounting for artists, from understanding tax responsibilities to knowing when VAT applies. Think of this as your creative-friendly guide to making sense of the money side of art.
Why Accounting Matters for Artists
Creative work is often project-based, freelance-heavy, and unpredictable in income. Unlike traditional salaried roles, artists may have irregular cash flows, different income streams, and project expenses to juggle. Proper accounting helps you:
• Keep track of your income and outgoings
• Claim legitimate expenses
• Avoid tax penalties
• Understand when you need to register for VAT
• Make informed business decisions
Getting your finances in order doesn’t mean giving up your artistic soul—it means empowering it with a solid foundation. The earlier you start, the easier it becomes to grow your practice into a profitable and sustainable career.
Tax Responsibilities Every Artist Should Know
Whether you’re a self-employed illustrator or a part-time filmmaker selling your work online, you’ll likely need to register with HMRC and submit a Self-Assessment tax return. Here’s what to keep in mind:
• Registering as Self-employed: If you earn more than £1,000 from self-employment in a tax year, you need to register.
• Deadlines: The UK tax year runs from 6 April to 5 April. Your online tax return is due by 31 January the following year.
• National Insurance Contributions (NICs): Self-employed individuals may need to pay Class 2 and Class 4 NICs, depending on profits.
Filing your taxes can feel daunting, but missing deadlines or misreporting income can lead to fines or unnecessary stress. Getting professional advice from someone who Understands accounting for artists can make a huge difference.
What Can You Claim as Business Expenses?
Many artists miss out on valuable tax deductions simply because they don’t know what they can claim. Here are a few examples of allowable expenses:
• Studio rent or home office portion
• Art supplies, tools, and materials
• Website hosting and domain fees
• Travel for exhibitions, meetings, or shoots
• Marketing and promotional costs
• Professional services like a Tax Accountant for Artists
If something is directly related to your creative business, there’s a good chance it’s tax deductible. Just make sure to keep your receipts, log your expenses, and stay consistent with your record-keeping. A simple spreadsheet or cloud-based accounting software can work wonders.
When Do You Need to Register for VAT?
If your taxable turnover exceeds the VAT registration threshold—currently £90,000 in a 12 month period—you must register for VAT. This applies even if your clients are other creatives or you mostly sell online.
Some artists choose to register voluntarily if it helps their business image or enables them to reclaim VAT on expenses. However, VAT accounting comes with additional admin, so it’s best to get tailored advice before making a decision. A specialist in accounting for artists can help you understand the pros and cons.
Working with a Tax Accountant for Artists
Let’s face it—most artists didn’t get into their craft to become tax experts. That’s where we come in. At Creative & Numbers, we specialise in helping creative professionals stay on top of their financial obligations without losing their artistic edge.
From bookkeeping to self-assessment submissions, we offer clear, jargon-free guidance tailored to the unique world of creatives. We understand the nuances of freelance work, grants, residencies, copyright income, and more—and how they impact your tax situation.
By working with a Tax Accountant for Artists, you can save time, reduce stress, and ensure you’re not missing out on important tax reliefs.
Let Us Handle Your Numbers So You Can Focus on Your Creativity!
You’ve got art to make, ideas to explore, and stories to tell. Don’t let accounting get in the way. Contact Creative & Numbers today and let our team of experts support your creative journey with stress-free, artist-friendly financial advice.
