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

Siliconslave said:
I'm going to start a bitcoin mining business and put all my electricity through as a business expense, can even plumb the water-cooling into the central heating so i won't need any gas. Win Win
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that is kind of legit though... well the electricity for the mining at least. If only you'd thought about doing this 7 years ago...
 
Battery! said:
Genius. I work from home a few days a week, I'm putting my mortgage through the books as a business expense.

Sauce: HP
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I heard one of my favourite streamers say his accountant made him stream from the biggest room in his house to be able claim more business expenses. Also I got the idea of the dog/mascot from him too.
 
Skidder said:
Why not start a business with the intention of also making money rather than just evading tax?
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I have actually thought of this and I do have a idea for expanding the business once I have a nice little thing going on with the twitch streaming. I intend to dabble in Steam asset flipping, it seems a solid way to make a little extra income.
 
FortuitousFluke said:
Sometimes my wife gives me a lift to the station on my commute. Can I whack her chrimbo presents on my expenses?
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I think not, since the presents aren't a business cost. The fuel for the vehicle is though, so there's something more to claim for. You could also try the life insurance advertising route and value her time at the rate it would cost to hire a professional driver from an agency. That would add a fair bit to the "expenses" to be deducted.
 
rubberduck said:
I heard one of my favourite streamers say his accountant made him stream from the biggest room in his house to be able claim more business expenses. Also I got the idea of the dog/mascot from him too.
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you can try to pull all sorts of silly **** if you like, just make sure you've got some funds set aside for HMRC in case they see through your BS and decide to bend you over...

I know someone who was supposed to be a second hand car dealer (on paper) despite not selling any cars... HMRC and the UK courts didn't find it very plausible
 
Angilion said:
I think not, since the presents aren't a business cost. The fuel for the vehicle is though, so there's something more to claim for. You could also try the life insurance advertising route and value her time at the rate it would cost to hire a professional driver from an agency. That would add a fair bit to the "expenses" to be deducted.
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What if I badged it as corporate gifting in order to maintain good relations? Also last years trip to Paris was a 3 day corporate away day, much team building was done I promise.
 
[FnG]magnolia said:
You want your Accountant to be Rain Man not The Wolf of Wall Street :)
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I want to self learn my accountancy using YouTube and Google. I think the only prerequisite is having excel or open office etc. Actually not even that as accountancy has been around long since then and is basically the same as it has always been. Maybe a bit of coal and a cave wall were how the first accounts were filed lol.
 
FortuitousFluke said:
What if I badged it as corporate gifting in order to maintain good relations? Also last years trip to Paris was a 3 day corporate away day, much team building was done I promise.
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Makes sense to me!

rubberduck said:
I want to self learn my accountancy using YouTube and Google. I think the only prerequisite is having excel or open office etc. Actually not even that as accountancy has been around long since then and is basically the same as it has always been. Maybe a bit of coal and a cave wall were how the first accounts were filed lol.
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I would be prepared to bet a little money on paleolithic tax law being somewhat less complex than modern tax law.

As an aside, the oldest filed accounts that we know of were done on clay tablets(*). They may be the first accounts ever, since it's possible that the development of an urban society is what made both accounting and writing necessary. Prior to that, things were much simpler and taxation could plausibly have been done with memory, tally sticks and suchlike if taxation was needed at all. Some places, for example, had the state (or the ruler) owning the means of production and gaining income from them directly or through renting them out to people. Tax could also be in the form of labour, e.g. a serf's obligation to spend x days a year working their lord or lady's land.

* Sumerian, the oldest known writing. They also contain records of other things, such as formal disputes in business. One, for example, is a record of one merchant bringing a complaint against another regarding the purity of the copper that they had bought. There are clearly some things common to all urbanised societies.
 
don't forget you can claim £150 for you and £150 for your partner 100% tax deductible for Christmas party's and quess what you don't have to have it at Christmas :D
 
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rubberduck said:
I want to self learn my accountancy using YouTube and Google. I think the only prerequisite is having excel or open office etc. Actually not even that as accountancy has been around long since then and is basically the same as it has always been. Maybe a bit of coal and a cave wall were how the first accounts were filed lol.
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No.

I've got a degree in Accountancy, but I graduated in 1997 and I wouldn't even think about pulling my old text books out and doing my own accounts.

You may have noticed a big kerfuffle in the US recently about rewriting the tax rules? Ok that was a botch job by an orange idiot in another country but loopholes, which is what you're interested in, are a constant game of cat and mouse between tax payers and the government.
 
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