Artists can receive money from many different sources, e.g. grants, awards and bursaries, as well as earnings from freelance or other employment.
For tax purposes it is important to understand when such monies will be treated as income and therefore subject to income tax.
October 1 1990 saw the start of the scheme known as Gift Aid which was announced by the Chancellor the previous March. The simplicity of the scheme and its benefits have yet to be taken advantage of b… Continue Reading Gift Aid: an Arts Boon?
Reading last month’s Page Two (Art Monthly No.74) contribution by Jennifer Oille, reporting the apparently unfair and inequitable treatment of artists under Canadian tax laws, stimulated some comparis… Continue Reading The Tax Man Cometh
Art education has undergone radical changes in recent years not just in the content of courses but also in the funding and administration of the colleges themselves. In fact, few art schools exist as… Continue Reading A Tax on Art Schools
One fine day composer John Casken arose to discover that he had won the first Britten Award for composition worth £10,000. He won the money for Golem, a work for eight singers accompanied by 11 instru… Continue Reading Oh! My Precious