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Where Taxpayers and Advisers Meet

Secondary income as a musician

neilfann
Posts: 1
Joined: Tue Dec 04, 2018 10:52 am

Secondary income as a musician

Postby neilfann » Tue Dec 04, 2018 11:00 am

Hi, I've got a question and would appreciate advice please:

I'm an IT contractor and work outside of IR35 from a limited company. I make a good dayrate doing this.

I'm also an amateur musician. The amount of money I make from this is very small - £40 from a pub gig is typical. I also have songs up on apple music and spotify etc so could theoretically make a lot more.

Is this enough to put the music activity through my limited company i.e. buy equipment through the company? Or is this asking for trouble given that I'd almost certainly make a huge loss on equipment bought, even if it's in the hope of "making it"?

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