Table rent or a home studio, consumables like gels and tips, cash and card and upfront infill bookings. Many nail techs are part-time, so here's how Making Tax Digital for Income Tax applies to you, and when it starts.
MTD for Income Tax phases in by gross income before expenses. Many nail techs are part-time, so it's worth checking where your gross income sits.
Renting a table makes you a business owner. Record your takings and claim the rent as an expense, so you're taxed on what you keep. Our chair and room rent guide explains the status question.
When you're in scope, your annual Self Assessment return is replaced by four short quarterly updates and a year-end final declaration, all through recognised software.
Record your takings and your table rent separately so your quarterly figures show what you actually keep.
Rent, or a share of home costs, is deductible. Record your takings and the cost so you're taxed on what you keep.
Gels, tips and consumables are deductible. Snap the receipts so your expenses stay complete.
Both are income. Log cash as you're paid, alongside card takings, so your quarter is complete.
Deposits and upfront infills are recorded consistently so your quarterly figures line up.
Renting a table or working from home makes you a business owner. Clear Books keeps your takings and costs tidy and gives HMRC exactly what MTD needs, whenever you're in scope.
Record takings, rent and consumables as you go, watch your gross against the thresholds, and be ready to submit when your wave lands.
