Reviewed by a Qualified Accountant
This content has been reviewed by our qualified chartered accountants. However, you should always check with a professional. If you have any questions at all, don’t hesitate to get in touch.
Being a musician involves a wide range of activities and expenses, from purchasing instruments to promoting your music. Managing these expenses can be complex, but as accountants for musicians, we’re here to provide clarity and support. This guide highlights the essential expenses you can claim, allowing you to focus on your music while optimising your tax savings.
We’re musicians ourselves, so we feel we’re absolutely best placed to offer accountancy advice for musicians.
Equipment & Instruments
🎸 Instruments
Costs for purchasing and maintaining musical instruments.
🔧 Instrument Repairs
Expenses for repairing and maintaining your instruments.
🎤 Sound Equipment
Costs for microphones, amplifiers, mixing desks, and PA systems.
💻 Music Software
Expenses for music production software and digital tools.
🔒 Equipment Insurance
Costs for insuring your musical instruments and equipment.
And more…
There’s plenty more equipment and instrument related costs you could claim. Just follow the golden rule: a deduction is allowed for expenses incurred wholly and exclusively for the purpose of the trade.
Studio & Rehearsal Space
🏢 Studio Rent
Costs of running a studio or home office, including utilities and minor equipment.
🔊 Studio Setup
Payments for studio space or part of home rent designated for business use.
💡 Studio Utilities
Fees linked to maintaining a business bank account.
And more…
There’s plenty more studio related costs musicians could claim. Just follow the golden rule: a deduction is allowed for expenses incurred wholly and exclusively for the purpose of the trade.
Travel & Transportation
🚗 Mileage
Travel costs for gigs, rehearsals, and business meetings.
🚉 Public Transport
Costs for trains, buses, and other public transport.
✈️ Airfare
Expenses for flights related to tours or business trips.
🏨 Accommodation
Costs for hotels or Airbnb when travelling for work.
🍽️ Meals While Travelling
Expenses for meals when travelling outside your home city.
🅿️ Parking & Tolls
Costs for parking fees and road tolls.
And more…
There’s plenty more travel expenses you could claim. Always check with a tax professional if you aren’t sure.
Marketing & Promotion
🌐 Website & Hosting
Costs for maintaining a professional website.
📢 Advertising
Expenses for online advertising, social media promotion, and PR services.
📸 Photography & Videography
Costs for promotional photos and music videos.
🖨️ Printing
Expenses for printing promotional materials like posters and flyers.
And more…
There’s plenty more marketing expenses you could claim. Always check with a tax professional if you aren’t sure.
Education & Training
🎓 Music Lessons
Costs for private music lessons and coaching.
📚 Courses & Workshops
Expenses for attending music-related courses and workshops.
📖 Educational Materials
Costs for books and other learning resources.
🖨️ Printing
Expenses for printing promotional materials like posters and flyers.
And more…
There’s plenty more marketing expenses you could claim. Always check with a tax professional if you aren’t sure.
Professional Services
📑 Accountancy Fees
Fees for professional accounting and tax services.
⚖️ Legal Fees
Expenses for legal advice and services related to your music business.
🛡️ Insurance
Costs for business insurance, including public liability.
🏦 Bank Charges & Interest
Charges from your business bank account and card machine fees.
And more…
There’s plenty more professional expenses you could claim. Always check with a tax professional if you aren’t sure.
Office & Home Office
📠 Office Supplies
Expenses for stationery and office supplies.
💻 Computer & Software
Costs for computers and office software.
🪑 Office Furniture
Expenses for desks, chairs, and other office furniture.
🏡 Use of Home as Office
Partial cover of rent or mortgage interest, utilities, and insurance if you work from home.
And more…
There’s plenty more office and home expenses you could claim. Always check with a tax professional if you aren’t sure.
Miscellaneous
👗 Performance Clothing
Costs for stage costumes and specific performance outfits.
💄 Make-up & Hair Styling
Expenses for stage-specific make-up and hair styling.
🎫 Research Expenses
Costs for concert and show tickets for market research.
🎁 Promotional Gifts
Expenses for business-related gifts.
🎟️ Performance Licences
Costs for performance and recording licences.
And more…
There’s plenty more expenses you could claim. Always check with a tax professional if you aren’t sure.
