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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15944
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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hi I am a self employed musician who occasionally has to pay

Resolved Question:

hi I am a self employed musician who occasionally has to pay other people for concerts. How do I show that I do not recieve all the income?
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.

Hi.

You need to keep records of all your income and expenditure, whether the transactions are in cash or by cheque or bank transfer. If you make a payment to another person in relation to your business, if they won't give you a receipt or an invoice, keep a note of the payment, their name and the nature of the payment in your diary or whatever form you keep your business records in, a computer spreadsheet for example. Make notes on your bank statements and keep cheque stubs.

I hope this helps but let me know if you have any further questions.

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