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February 1, 2022
February 1, 2022
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Do I need to pay Tax as an OnlyFans Creator?

Anthony Allen
Anthony Allen
How are taxes calculated if you are an OnlyFans creator?
Earnr is the finance and tax companion for the self-employed and side hustlers. We give you more time to run your business. Download Earnr for free on iOS. Need tax advice now? Ask Earnr AI, our new AI tax assistant

As with any self-made income you’ll need to pay tax on your income if you make over £12,570 in the tax year.

If you’re doing OnlyFans on the side then you’ll need to understand paying tax as a side hustle. You can read more about side hustles in our blog post here.

If you’re going full-time creator mode then you’ll need to understand paying tax as self-employed. You can read more about going fully freelance in our blog post here.

As you start out you’re more likely to be a sole trader in which case the bands for tax are:

If you start hitting that higher rate of tax then it’s worth setting up as a limited company. This means you’ll pay corporation tax on your earnings at 19% rather than 40%+ income tax. If you’re on the basic rate it’s worth remaining as a sole trader and avoiding the additional admin and costs of setting up a limited business.

Each year you need to fill out a self-assessment tax return. What you pay is your freelance tax bill minus the expenses of running your business. You can read more on how to complete your self-assessment tax return in this Earnr article.

The usual cut off date to complete your self-assessment is the 31st of January if you’re doing it online, and 31st of October if you’re completing the form by post.

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