Ep.174 Demystifying Tax for the Self - Employed Singing Teacher with Accountant Andy Muckett

Singing Teachers Talk

Alexa welcomes UK tax accountant, Andy Muckett, to the podcast, to demystify the complexities of tax for self-employed vocal coaches and singing teachers in the UK. They discuss why taxes can feel overwhelming for creative professionals, the differences in tax responsibilities between employed and self-employed individuals, and practical tips for managing tax-related challenges. The conversation offers insights on estimating tax liabilities, understanding taxable income, and navigating the transition to self-employment.

QUOTE

‘If you were to take 20% of all your top line income before any expenses…and put it away in a savings account, then in theory that would give you more than enough money than you need to pay your tax when it comes around.’
Link to presenter bios: Click Here
RELEVANT MENTIONS & LINKS

HMRC: gov.uk/government/organisations/hm-revenue-customs
Companies House: gov.uk/government/organisations/companies-house
(Podcast) Singing Teachers Talk - Ep.159 How Toys and Props Can Create Dynamic Singing Lessons with Kaya Herstad-Carney
Vibrant Voice Technique: vibrantvoicetechnique.com
Information Commissioner’s Office (ICO): ico.org.uk/for-organisations/data-protection-fee
DEXT Solo: info.dext.com/welcome-to-dext-solo
MyMusicStaff: mymusicstaff.com
(Podcast) Singing Teachers Talk: Ep.93 How to Organise Your Singing Studio Business with My Music Staff
The Musicians Union: musiciansunion.org.uk
Independent Society of Musicians: ism.org
(Podcast) Singing Teachers Talk: Ep.117 The ISM: What Singers and Singing Teachers Need to Know with Ruth McPherson

ABOUT THE GUEST

Andy has been involved in the tax world since he left school as a 16 year old. He originally worked for the Inland Revenue (now HMRC) for 5 years before moving into the accounting profession where he specialised in personal taxation and gained accreditation as a Chartered Tax Advisor. He set up AKM in 1992, mainly supporting individuals with their tax compliance needs and always with an eye towards finding opportunities to reduce client tax bills within the confines of the law. Andy loves performing on stage (mostly local panto) when the opportunity arises and when time allows.

Website akmaccountingsolutions.co.uk

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