Can I become twitch streamer to pay for things as a business expense?

rubberduck

rubberduck

rubberduck

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Hello

Can I set up a business where I am an online twitch streamer / YouTuber in order to claim items such as my broadband, computer upgrades, and utilities as a tax deductable business expense against the loses the business will make? Idea would be to pay myself minimum wage from the business and stream a couple of hours every night of me playing minesweeper etc. No one will watch and thus no income but the premise will be I am growing my audience etc. initially. I will put some capital in to the business to continue paying my wage and can then claim utility bills, computer upgrades, clothes, food as a business expense. All things I am paying for currently but paying full tax on. As business will be making a loss I can hopefully offset some more tax as well. Maybe I can even claim a pet etc. as a mascot for my stream and therefore also a business expense?

What do you reckon? Seems pretty legit to me.
 
Not a chance. As you have no serious expectation or intention of making a profit you are not carrying on a trade.

Source: I’m a chartered tax advisor.
 
I'd guess you've got a better chance of seeing God yesterday, than getting away with that.

But good luck to you anyway. :D
 
I'd go one further

Technically, you will be working from home, so you should be able to write the cost of your house off as a business expense
 
Have you considered that if you worked 2hrs extra a day rather than wasting it streaming minesweeper, you would likely earn more than your definitely good idea plan would net you in claimables?
 
Vonhelmet said:
Not a chance. As you have no serious expectation or intention of making a profit you are not carrying on a trade.

Source: I’m a chartered tax advisor.
Click to expand...

This guy clearly doesn't know what he's going on about. I say go for it.

Source: I clearly know what I'm going on about.
 
Why would you even pay yourself a wage - I mean you want to put money into the company that you already have and then pay yourself a wage using that money????

Also if you're not making any money then it seems pretty dubious - presumably the broadband will be your home broadband etc.. in which case LOL your going to deduct the cost of that based on a business that doesn't even really exist? Good luck...
 
Try it, i saw on the news you can get those tiny phones u stick up ur *** so can update us from prison lol.

It would have been potentially worth a try, posting about it first on a public forum however wasnt a good idea!
 
This is when we discover there is a lucrative market for people watching someone waste their life away streaming minesweeper.
 
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