Guide On Your Tax For A Guitar Teacher
Ever wondered how much you can earn as a guitar teacher before the tax man starts taking his share? Well here is a free download for all guitar tutors to help work it out.
For the tax year of 2016 and 2017 the limits have risen to £11,500 per Year. This means you will be able to take up to this amount without being taxed on your income. Any thing above this is charged around 20%. Please note that this is for Class 4, national insurance contributors.
For more details see the attached taxation sheet or visit the HM Revenue & Customs website here.