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.
Working as a tattooist presents its own unique blend of artistry and technical challenges. From the buzz of creating stunning visuals on skin to the satisfaction of a pleased client, there’s little time left to untangle the complexities of taxes and expenses. Fear not, we’re here to provide guidance and steer you in the right direction.
We’ve provided accountancy services for tattooists for years, with many satisfied clients. In this guide, we unveil the essential expenses that can help tattooists reduce their tax bills, ensuring you keep more of your hard-earned cash. So, ready your needles and prepare to ink your way to tax savings, leaving you more time to focus on your art.
Studio Supplies & Equipment
🖊 Ink
Costs for various inks used in tattooing, essential for the service provided.
🎨 Studio Supplies
General supplies like gloves, sterilisation equipment, and cleaning products required for daily operations.
💉 Needles
Expenses for single-use needles, essential for maintaining hygiene and safety standards.
And more…
There’s plenty more studio and equipment 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.
Operational Costs
🏢 Studio/Home Office Operational Costs
Costs of running a studio or home office, including utilities and minor equipment.
💸 Rent
Payments for studio space or part of home rent designated for business use.
🏦 Business Banking Fees
Fees linked to maintaining a business bank account.
📊 Accounting Fees
Professional fees paid for financial services like tax preparation and bookkeeping.
📈 Interest on Bank Loans
Interest expenses on loans taken out for business purposes, such as purchasing equipment.
📱 Mobile Phone Costs
The cost of a mobile phone and carrier charges, if used solely for business use.
🚗 Work-Related Travel
Expenses for business-related travel, including conventions and client meetings.
🧠 Education & Training Classes
Expenses related to acquiring or updating skills necessary for improving service quality.
And more…
There’s plenty more operational costs tattooists could claim. Just follow the golden rule: a deduction is allowed for expenses incurred wholly and exclusively for the purpose of the trade.
Miscellaneous
✒ Office Supplies
Essential supplies for maintaining business records and administrative tasks.
🍬 Water & Treats for Customers
Costs of refreshments offered to clients, enhancing customer experience.
📣 Marketing & Advertising
Expenses incurred in promoting services, including online ads and printed materials.
📚 Artbooks & Magazine Subscriptions
Expenses incurred in promoting services, including online ads and printed materials.
And more…
There’s plenty more tattooist expenses you could claim. Always check with a tax professional if you aren’t sure.
