34 Expenses for Musicians

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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.

πŸ”§ Instrument Repairs

Expenses for repairing and maintaining your instruments.

🎀 Sound Equipment

Costs for microphones, amplifiers, mixing desks, and PA systems.

πŸ’» Music Software

Expenses for music production software and digital tools.

πŸ”’ 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.

πŸ”Š Studio Setup

Payments for studio space or part of home rent designated for business use.

πŸ’‘ 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

πŸš— Mileage

Travel costs for gigs, rehearsals, and business meetings.

πŸš‰ 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.

πŸ…ΏοΈ 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.

πŸ“’ Advertising

Expenses for online advertising, social media promotion, and PR services.

πŸ“Έ Photography & Videography

Costs for promotional photos and music videos.

πŸ–¨οΈ 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

πŸŽ“ Music Lessons

Costs for private music lessons and coaching.

πŸ“š Courses & Workshops

Expenses for attending music-related courses and workshops.

πŸ“– Educational Materials

Costs for books and other learning resources.

πŸ–¨οΈ 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

πŸ“‘ Accountancy Fees

Fees for professional accounting and tax services.

βš–οΈ Legal Fees

Expenses for legal advice and services related to your music business.

πŸ›‘οΈ 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

πŸ“  Office Supplies

Expenses for stationery and office supplies.

πŸ’» Computer & Software

Costs for computers and office software.

πŸͺ‘ 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

πŸ‘— Performance Clothing

Costs for stage costumes and specific performance outfits.

πŸ’„ 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.

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