Before your tax bill can be calculated you need to work out how much you’ve earned. So it’s time to look at what makes up your business income and what expenses you can take off to arrive at your business profit.
How is your bill for Income tax and National Insurance worked out?
With a tax bill to pay every 6 months you probably want to set money aside regularly through the year. But how much?
Most escorts will not earn enough to be troubled by VAT, but it is important to be aware of how it works because getting accidently caught in the VAT net can prove very, very expensive.