I have recently acquired a lady client who has "diversified" into providing professional "escorting and companionship" services. I have thought laterally about allowable expenses, but would appreciate any serious comments from anyone with experience of acting for clients in this field.HMRC attitudes especially. Thanks
Tony Turner
Replies (5)
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Naive?
Suggest you carefully check out your client's website to clarify what services are offered. Not wanting to pre-judge your client but most "escorts" are thinly veiled covers for prostitution ... taxable but not legal!
In reply
Hi Tony
We have experience in this field as accountants.
I could post a full novel of the issues at play but could not do it justice due to not wanting to offend other readers of this site by explicit comment.
You could always give me a call on 01709 528400 and I will glady chat with you about it.
Regards
Neil
expenses
Would hair, makeup and clothes expenses be allowable? I know there is a concession for this for actresses.
Just a thought.
Good for your client.
The problem with this field is that because it has an illegal element to it, many people are afraid to step up to the plate and pay their taxes - after all, under Money Laundering Regs, we have to report any illegal activities our clients get up to.
We should not discourage people in grey-market professions to legally declare their taxable income; it's the right thing to do and outweighs any social/moral distaste with how they earn their living.