Part Time Travel Writer (Freelance)

[tukshad.engineer@mor]

Hi,

My wife is looking to freelance in travel writing (part time) to subsidise her income.
she has a full time job on which she pays 22% tax. Is she allowed to offset her travel
expenses against her freelance income? Also, if this means that she makes an overall
loss is she allowed to offset this loss against the income from her office job?

Many thanks.

[Nigel Lord]

Your wife will certainly be able to offset travelling expenses incurred in respect of the trade of freelance travel writing to reduce or eliminate any profit, as long as they are wholly & necessarily incurred (family holidays are neither).

If losses are incurred, your wife will need to establish that she is trading with an intention of making a profit. If so, she will be able to offset any net loss against her other income by making the appropriate loss claim on her annual return.

If you require any further assistance please do not hesitate to contact us, and we will be happy to act on your behalf.

Nigel Lord
Lord Associates
Taxation & Business Consultants
Caxton House
Old Station Road
Loughton
Essex, IG10 4PE
020 8418 9101 & 07769 931852
mail@lordassociates.co.uk