
Just been reading the bits about letting Inland Revenue in on your disco's.
OH Yes!
Keep all records of earnings, just write them down in a note book along with the date and disco etc. DO THIS EVERY WEEK.
Then keep all your receipts for equipment. Even if you don't want to tell them, this will give you the information they need if they catch you & will stop them digging in and estimating what you owe! There will be a small tax bill and a possible fine depending if you have been careless or just gullible.
I do my tax regularly and made a few cockups years ago that resulted in them having a closer look and it gets very ugly, so do it right from the start. If you earn next to nothing you will pay next to nothing, If you earn loads and claim for everything you will still only pay about £2500 tax a year on about £26,000 turnover.
You claim for EVERYTHING ALLOWABLE. Car or van, fuel, road tax, telephone, advertising, paperwork & stamps etc, clothing, equipment & repairs, cd's, subscriptions, P.L.I. and P.A.T. testing costs (these you must have or you are an idiot who should not be working with the public these days!) Claim everything and take off about a fifth for private use on the parts that are not soley for the disco.
IF PEOPLE SEE YOUR ADVERTS THEN SO DO THE TAX OFFICE. Anything you don't understand, ring them up and these days they are very helpful and they understand that we are not all brain surgeons and may need telling a few times how to get it sorted.
By the way get your Public Liability Insurance from Country Mutual Insurance Brokers 01952 641321. At the mo it's about £100 a year for 2 mill. cover. £150 for 5 mill.