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As a freelance filmmaker or videographer, you have to pay taxes like any other sole trader.
You will need to complete a Self Assessment and then pay tax via a tax return.
This depends on how much you earn.
If you do videography outside your full-time position as a side-gig, you can take advantage of the Trading Allowance. It allows you to earn up to £1,000 on top of your salaried income, tax-free.
Anything you earn over £1,000 is taxed at the normal rate of tax you pay. If you’re not sure how much you normally pay, take a look at the table below:
|Income||Tax rate||Tax band|
|Up to £12,570||0%||Personal Allowance|
|£12,571 – £50,270||20%||Basic Rate|
|£50,271 – £150,000||40%||Higher Rate|
|£150,000 +||50%||Additional Rate|
If you freelance full time, there are three types of tax that you should pay:
Both Class 2 and Class 4 national insurance must be paid even if you earn less than the tax-free Personal Allowance.
Class 2 National insurance is a fixed rate that you pay on earnings over £6,515. Class 4 National Insurance is 9% of your self-employment profits over £9,568.
To calculate what you owe in Income Tax, check out our Income Tax Calculator. Income Tax is only paid on earnings over the tax-free Personal Allowance threshold.
You can claim videography and filmmaker expenses against your income to reduce the tax that you pay. It’s really important to record everything that you earn and all of your business spending. If you have an electronic copy of everything, that’s even better, but if you keep paper records, that’s also fine.
Here’s a list of allowable expenses that you can claim as a videographer:
In fact, you can claim back anything that you can prove was an expense for your videography/filmmaking business.
You can get started right away. Sign up here to get matched with an accountant.