Many social media influencers don’t realise that they are, in fact, running a business. And while social media influencing is a relatively new sector, it is still subject to many traditional and complex tax rules and regulations.

Social Media & Influencers

Savvy social media influencers can utilise tax planning activities to maximise their earnings and ensure they’re operating in the most tax efficient way both now and in the future. But many don’t have a plan in place.

At Champion Accountants, we come across recurring questions from influencers who want to pay their fair share of tax and use our expertise to help put in place strategic, professional plans as they transform their hobby into a business.

We’re highly experienced in the world of social media, supporting influencers across all platforms but particularly YouTube, Facebook and Instagram.

We help our social media influencer clients to better understand their sources of finance so they can act responsibly at all times, including:

  • The difference between gifting and advertising
  • Whether to pay tax on gifts, freebies and samples
  • Trading and non-trading influencers
  • If and when to incorporate the business
  • Swapping non-transferrable gifted items for money
  • Accounting for VAT
  • Forecasting and financial planning for mortgage and other finance applications

If you work in the social media sector and require a personal service to help you get to grips with your tax, we’ll hold your hand throughout the process and connect you with other industry professionals – such as expert legal teams and insurance brokers – to support you along the way.

SPEAK TO AN EXPERT

David Herd
David Herd
Group Partner
Martin Frain
Martin Frain
Tax Advisory Consultant
Nathan Jones
Nathan Jones
Client Relationship Manager

Case Studies

For more information about how champion accountants can help,

Contact your local champion office today.