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Self Publishing or Normal Publishing and tax

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Louise
Active Ink Slinger
hi all,

I can see a couple of people here self publish or are published... this pertains to UK publishing and taxes only...

Do I need to declare this? Does Kindle automatically send the tax off or do I need to do it? Do I need to then have an accountant to go though my sales etc at the end of the year?

If you publish normally i.e. through someone like Harlequin do they sort out those kinds of things for you?

thanks

Louise
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DirtyMartini
Rest in Peace
Quote by Louise

If you publish normally i.e. through someone like Harlequin do they sort out those kinds of things for you?

thanks

Louise


Basically, that link I just posted refers to self-pub on Amazon, and what it tells you is if you don't have the tax ID number, which varies in difficulty to get according to country, they just withhold taxes at the highest rate...and you'll get it back when you file later...

You mentioned Harlequin, and there are a lot of romance writers in my LSF group...see my sig line, perhaps because I found out recently that LSF started as a branch of RWA some years back, but anyway, I know one writer mentioned she got an accountant and never looked back, but that has to do with the way Harlequin releases their back catalog in other countries, and how sales figures are computed...see this article...

A Newbie's Guide To Publishing - Harlequin Fail
http://jakonrath.blogspot.com/2012/05/harlequin-fail.html

In any event, your main concern should be getting published...and if at some point you really think you need to hire an accountant to keep the government from getting all your millions...well, every writer should have that problem...just saying...
I once knew a drinker who had a moderating problem...
Louise
Active Ink Slinger
I want to self - publish but I don't feel like being raked over the coals by the taxman(the HMRC already take far too much) say at the end of the tax year and having spent my £10 I made on an ebook they then charge me £100 in unpaid taxes. I have to be honest and say there is nothing more boring than filling in a gosh darn tax return.


thanks for the links..googling didn't help lol.
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Louise
Active Ink Slinger
I want to be able to write full time but with a wedding, holidays,copious amounts of debt it is not financially viable at present. I'd like to be one day able to support myself financially doing it. I've gotten to a point in my life were I wonder if I could do something I actually adored for a living instead of IT.

Alan, do you have a day job? Or is writing full time now?
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