As an influencer, growing your social media brand requires you
to be savvy about managing your accounts and finances, in order to make the most of digital business opportunities.
MWA’s specialist accountants for influencers are here to help, keeping your bookkeeping simple and streamlined to help you focus more on your creative work whilst providing a complete digital solution for all your receipts and expenses.
We work with social brands and influencers making money through YouTube, Facebook, Twitch, Twitter, TikTok, Only Fans and Instagram to manage their accounts in the most transparent and stress-free way possible. Whether you are looking for advice on taxes, invoicing, business planning or payroll, we can offer tailored guidance to ensure your finances are in the best possible shape.
We understand that influencers do not want their valuable time taken up by complex financial management issues, which is why we are dedicated to providing hands-on support and simple solutions to keep the hassle to a bare minimum.
With MWA, you can rest easy that your accounts are in good hands, allowing you to focus on your work and your passions.
App for all your expenses and receipts
Complete your tax return for you
Always available for any queries
Help you decide whether to be a company or trade as an individual to save money on your taxes
Make sure you get as much tax relief on your expenses as possible
Help you decide whether to be VAT registered
Why should influencers
In the last few years, social media has quickly evolved into a thriving industry worth billion. This marketplace is vibrant and growing fast, but is also hugely competitive, meaning influencers need to exercise good commercial judgement in order to get ahead.
At MWA, we understand that for many influencers, the financial and accounting side of brand management is not where their passions lie. We also understand that for younger social brand owners, many aspects of accountancy may seem complex and unfamiliar to them.
We have years of experience working with entrepreneurs and businesses of all shapes and sizes, including influencers and social media brands. We fully understand the unique dynamics and challenges of your market and are dedicated to providing the very best advice and the simplest solutions to help you grow your brand.
Bespoke Packages for
Influencers & Content Creators
based on your needs.
Sapling - those nearer the beginning of their journey that need some assistance.
Momentum – established creators needing a higher degree of assistance to streamline their tax and VAT.
Global Crowd - influencers generating a higher level of income that need full a full service solution
“…so helpful and answered all of my questions…has taken a lot of pressure of me....”
“They make it so simple and really easy to understand and they do EVERYTHING you need and have great communication speed!”
“…working with MWA has been a godsend…done all the hard work for me.”
Influencers represent a relatively new industry, meaning that many of the rules and conventions that businesses usually follow are still only just emerging. For individuals and brands that are just starting out, this can create a number of areas of potential confusion.
If you are earning money online, it can be unclear what is the best business model to adopt, or how to plan and manage your finances around an irregular income. You may also be unsure about what your tax liabilities are, or how to account for gifts, royalties and appearance fees when filing tax returns.
Given that many influencers start out as hobbyists without any specific intention of forming a business brand, getting professional advice from an experienced accountant with knowledge of the sector can be a crucial step in getting your finances in proper order.
Claiming expenses for tax-deductible purchases is one of the key ways that businesses can improve their financial efficiency, but many influencers do not know which of their costs could potentially be claimed as an expense.
The following purchases could potentially be claimed back through your tax return, provided that it is being used solely for business purposes and the receipt has been retained:
- Office supplies
- Business software and subscriptions, such as payments for stock photos and video assets
- Internet service costs
- Web design and development costs, including hosting and domain names
- Phones, laptops and cameras used by the business
- Business-related travel
- Merchandise and products purchased for content creation, such as items that have been bought to be reviewed
- Marketing-related spending, including prizes purchased for giveaways
Working with an accounting firm, you will be able to work out which of your outgoings can be written off as expenses, while remaining on the right side of the law.
As a general rule if your income is over a certain amount then it is VATable. There are some specific loop holes for YouTube AdSense for example if you meet certain criteria but the best thing to do to work out what is required/the most cost effective for you is to get in touch with us and we will point you in the right direction.
A W-8BEN-E is to prevent content creators and influencers losing 30% of their income when they are working with brands in the USA. We have completed a number of these for various clients and can asset you with this process.
No, but if you’re thinking about VAT then it’s probably worth trading through a company to save tax. This is something that we would be able to advise you best with a bit more information from you, so book a call or drop us an email.
If you are paying someone to help you create or edit content, deal with brands or anything else directly related to your business, then yes you can and will reduce your own tax bill if you do it correctly. If it’s a one-off, then they can give you an invoice and depending on their circumstances may not pay tax on it, even if it’s semi-regular. Get in touch so we can advise you of the specifics in relation to your content creation and social media channels.
If you’re a limited company, yes. Every transaction related to your work should flow through that bank account. Even if you’re a sole trader then legally you don’t have to, but we suggest you do so that no tax deductible expenses are missed when your accounts are done, given the nature of content creation and social media this could easily happen.