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Musicians tax breaks

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Will Scottish entertainers make more money with proposed musicians tax breaks?

One of the consequences of the Scottish Independence Referendum is a “Command Paper” to be produced by Lord Smith of Kelvin and the Scottish Devolution Commission.  Among the proposals being put to the commission is copying an idea from Ireland to give artists and musicians tax breaks.


Musicians tax breaks

Special treatment for artists

The Republic of Ireland has given artists a tax exemption since 1969 which means the profits from the sale of works do not attract income tax up to a maximum of €40,000, or £31,500.  Everyone agrees that the tax system should be simplified – except of course if it the complication benefits you.  Is this a valid sign of support for artists or will everyone want “special treatment”?

Alterledger can help

Why wait for the law to favour your industry?  Contact Alterledger or visit the website alterledger.com to see if you can organise yourself better and claim more expenses to cut your tax bill.

 


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