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Do I have to pay tax on OnlyFans (UK)?

  • 4 min read
  • 23 Aug 2023

Probably. 🫠

Similar to Patreon and Cameo, OnlyFans is a subscription-based platform where artists, entertainers, sex workers, and other content creators can earn an income.

A platform for premium content means premium prices, which means a premium position on HMRC’s hit list. 🎯

But don’t panic, we’re going to tell you how to stay on HMRC’s good side. In the meantime, keep those prices premium! 

How popular is OnlyFans? 

  • 📈 According to BBC OnlyFans has “more than two million creators worldwide”
  • 🚀 In 2021 it saw a “34% rise in creators”
  • 💰 And, “creator earnings were more than double what they were the previous year”

If there’s one thing that we can take away from these stats, it’s that OnlyFans is as popular as ever – which means a lot of you will need to file a tax return. And of course,  we’ve got you covered! 

Do I earn enough from OnlyFans to file a tax return? 

If you earn more than £1,000 of untaxed income during a tax year, you’ll have to file a tax return. 

Surprised? Don’t be. In HMRC’s eyes, you’re already bossing it, so you’ll be taxed accordingly. Well done. 👏

But I don’t know how to file a tax return… 

Entering uncharted territory can be stressful for the best of us. 🥴 So, let’s keep it simple.

Because you’re self-employed, you’ll need to file a Self Assessment. If it’s your first time, you’ll need to register through your HMRC business tax account. 📋

There’s only three steps to register: 

  1. 💻 Login using your Government Gateway ID 
  2. 👣 Follow the steps to register for your Self Assessment 
  3. 📅 Wait for your Unique Taxpayer Reference (UTR) number 

Now, you’re ready to start your Self Assessment. If you want to work smarter, not harder, hand your UTR number over to your TaxScouts accountant, and you’re done! 

Kick off your shoes, sit back and relax. 

What information do I need to register for Self Assessment? 

  • Your full name
  • Your national insurance number
  • Current address (and when you moved in)
  • Your date of birth
  • Your phone number and email address

Doesn’t seem too stressful, right? 

But, sometimes it doesn’t matter how easy it is, some of you just simply don’t have the time to file a Self Assessment.

So, if you’re wanting to find out more about how a TaxScouts accountant can help you keep your taxes and time management in check, ✅  look no further. 

Wait, what does a TaxScouts accountant do? 

Our accredited accountants will advise you how much tax you owe, they can help you avoid being penalised by HMRC, and they can help you with day-to-day tax efficiency ✅

Here’s some more things they can help you with:

  • Bookkeeping
  • Your Unique Taxpayer Reference (UTR) number
  • Advise on tax liabilities when you move abroad
  • Understanding allowances and claiming expenses

Our customers love us and yes, we’ve got the receipts! Read more on why TaxScouts is their number one choice for filing tax returns. 

I earn over 100K on Only Fans. Now what?

We know OnlyFans can be a lucrative business. So, if you’re a high earner, listen up.👂

The main tax implication of earning over £100K is that you start losing your Personal Allowance. 😥

The Personal Allowance, £12,570, is the amount of tax-free income everyone in the UK is entitled to receive each year. 

If you earn over £100,000 per year, your Personal Allowance is reduced by £1 for every £2 over £100,000. 📉

You can find out how much £100,000 is after tax here.

What are the UK Income Tax rates?

IncomeTax rate
Up to £12,5700%Personal allowance
£12,571 to £50,27020%Basic rate
£50,271 to £125,14040%Higher rate
over £125,14145%Additional rate

If you’re still unsure, take a look here, for more information on UK tax bands.

But, it’s not all bad news…

We’ve got a few tips and tricks to help you become more tax-efficient. 😉

We know what you’re thinking. And, the answer is no, it’s not the same as tax evasion.

Tax efficiency is when a person or business lawfully pays the least tax possible.

Here’s a few things you can do:

  • 📈 Increase your pension contributions
  • 🏥 Donate to charity and claim the Gift Aid tax relief
  • 💹 Look for tax-efficient investments

Take a look at this article for more ways to be tax efficient when you earn over £100,000.

But remember, anyone earning over £1,000 of untaxed income will need to file a tax return, and after £12,570 you’ll have to pay taxes! 

Can I claim expenses as an OnlyFans creator?

It’s the question on all self-employed minds. 🤔

In short, yes. 

Expenses are costs incurred in relation to your business. So, most things can be expensed, as long as they are ‘wholly and exclusively… for the purpose of trade.’  

But, what qualifies for a tax deduction varies from job to job. Check out this guide for more information! 

Here’s a few examples: 

Expense 💰Occupation 👮
Piano, violin, guitar Music teacher 
Cement mixer, screwdriver, hammer Builder 
Acetone, nail file, nail buffer Nail technician 

Here’s a few expenses OnlyFans content creators have submitted previously:

  • Tools – cameras, phones and lighting 
  • Beauty treatments – cosmetic surgery, false nails, hair extensions and makeup
  • Use of home – internet, water, electricity etc.
  • Gym memberships
  • Marketing costs 
  • Other – Airbnb used for filming

Earlier this year, OnlyFans content creator, Rebecca Godwin, made headlines for her tax-deductible breast implants.

Here’s a quick summary of what happened:

  • Rebecca had breast enlargement surgery to improve her income
  • Her accountant used HMRC guidance for entertainers – which stated that expenses must have no personal benefit
  • Rebecca’s monthly earnings rocketed from £9,900 to £27,800
  • Proving her surgery directly improved her income, the expense was approved

For further information on what HMRC allows as a deductible expense, you can read their advice here

You can also check out our post on which self-employed expenses you can claim! 

Ready, set, go! 

Now you know when to pay tax, how to do it, and who can help, you can keep bossing your OnlyFans channel stress-free! 

Finally, if you need help calculating how much tax you owe, check out our handy Income Tax calculator below.

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