Grant funding is traditionally the best-known type of funding for artists. Consequently, it is a highly competitive field with many more people applying for grants than can be supported.
Fundraising can be a full-time occupation, so what can you do if you want to get more effective at applying for grants without it taking over your life?.
The less money you spend, the less you’ll need to earn or raise. Before you think about raising your income, work out if you can reduce your expenditure.
Everyone has a slightly different situation when it comes to his or her current earning and potential to turn a profit.
In general, nearly all the expenses incurred wholly for business purposes will be allowable for tax purposes, with the exception of entertaining expenses, fines and penalties.
There is much confusion over the new VAT rules due to come into force on January 1st 1993 as part of the European Single Market.
For the third time in eight years, I set myself the task of examining the newly-elected Government's past achievements and future policies in relation to the visual arts.
October 1 1990 saw the start of the scheme known as Gift Aid which was announced by the Chancellor the previous March.
Once a year you will need to fill in a tax return – or Self Assessment form, in the HMRC jargon – to let HMRC know how much you have earned, how much your deductions are and what profit you have made.
It is sensible to have a meeting with an accountant before you start your business. They can talk you through setting up your accounts and advise you about reclaiming expenses from taxable income.