3 Simple Tax Strategies to Get Your Next Camera for Free!
- mlyubenov
- Feb 26
- 5 min read
Strategy #1
Every month, money quietly disappears from your bank account—your rent, your electricity, your Wi-Fi bill.
It’s money you have to pay anyway, whether you run a business or not.
But here’s the thing: if you use your home for work, you’re missing out on a massive tax deduction that could put cash straight back into your pocket.
Most creative business owners either don’t realise they can claim home expenses or avoid it, thinking it’s too complicated.
Let me tell you about two freelancers—Emma and Jake.
Both of them work from home.
Emma edits videos in her living room, and Jake uses a spare bedroom as a dedicated photography studio.
At the end of the year, Emma doesn’t claim any home expenses on her tax return. Why? She assumes, “I live here anyway, so it’s not really a business expense.”
On the other hand, Jake claims a portion of his rent, utilities, and internet as a legitimate business expense.
Who do you think pays less tax at the end of the year?
What you need to know ℹ️
If you use your home for business, HMRC allows you to deduct a portion of your rent, mortgage interest, council tax, utilities, and even broadband based on several factors:
👉 Area: The area (square feet) of the home used for trade purposes.
👉 Usage: The amount of time a dedicated space is used for business compared to any other use.
👉 Rooms: The number of rooms in your accommodation.
What That Means for You
Let’s say you spend £1,500 per month on rent, utilities, and broadband.
If you’re doing post-production client work from home, you can reasonably allocate around 20% of your expenses as business costs—that’s £3,600 a year in tax deductions!
At a basic tax rate of 20%, that’s £720 in tax savings—enough to cover a brand-new camera or upgrade your gear.
The best part? You were already spending this money anyway. This is just about making sure it works for you, instead of against you.
Strategy #2
Let me ask you something – How much money did you spend on gear and software before you registered your business?
The laptop you bought because your old one couldn’t handle 4K video edits.
The camera lens you upgraded because you wanted better quality client work.
The software subscriptions, the business cards, the website hosting—all the things you had to invest in before you even made a penny.
£3,000? … £7,000? ... £10,000!?
And when your first tax season came around did you just tell yourself - “Well, I wasn’t technically trading back then, so I guess I can’t claim any of that.”
Imagine if you could go back in time and get tax relief on those expenses.
Well, guess what? You can.
What you need to know ℹ️
Pre-trading expenditure is money you spent on your business in the 7 years before you officially started trading—things like:
✔️ Cameras, lenses, lighting, and gear you bought in anticipation of future work ✔️ Editing software, website hosting, and branding costs ✔️ Initial advertising, social media templates, and marketing materials ✔️ Office setup, furniture, and even a desk & chair if used for work ✔️ Professional fees (accountants, legal advice, business registration costs)
HMRC allows you to claim these costs as if they happened on your first day of trading.
This rule is particularly relevant for creatives who started as hobbyists, slowly built their skills, and later turned their passion into a business.
If you’re preparing for your first tax return, applying this rule is very straight-forward.
But what if you already filed your tax return and didn’t claim pre-trading expenses?
👉 You can easily amend your return up to 12 months after the submission deadline.
👉 If more than 12 months have passed, you may still be able to submit an overpayment relief claim—but the chances of success depend on your specific situation.
What That Means for You
Let’s say you spent £5,000 before you officially started your business.
By claiming it as a pre-trading expense, you reduce your taxable income by £5,000.
At a 20% tax rate, that’s £1,000 in tax savings—enough to pay for a brand-new camera or invest back into your business.
Strategy #3
One of the main reasons why creative business owners overpay on their taxes is due to lack of strategy.
Let me explain what I mean.
Wouldn’t life be easier if you had someone to help you:
➡️ Plan, schedule, and post content on Instagram, TikTok, Facebook, and LinkedIn.
➡️ Capture behind-the-scenes footage or assist with B-roll shots
➡️ Assist with location scouting, shot lists, and storyboarding.
➡️ Spot you while you have those massive FPV goggles on.
➡️ Contact local businesses, wedding planners, or brands for collaborations.
You might be thinking – “It’s too difficult to find someone you can rely on for these sort of things.”
Well… why don’t you just… hire your spouse? Or even your kid (if they’re over 13)?
According to Oxford Economics, there are 4.8 million family firms in the UK who made up 85.9% of all private sector businesses in 2020.
This is not a coincidence! 😉
Many business owners have discovered that hiring a family member isn’t just good for business—it’s great for the bottom line too!
By paying them a fair wage for meaningful work, you can keep more money within your household, improve efficiency and reduce tax liabilities.
What you need to know ℹ️
From a tax perspective, it makes far more sense to employ a family member rather than hire externally.
This way, you can shift income from yourself (taxed at a higher rate) to a family member (who may have unused personal allowance or a lower tax rate).
And don’t worry about minimum wage, because if they live in the family home and work in the business they are outside the scope of the NMW!
However, HMRC requires that salaries be reasonable and justifiable.
Simply pay them what you'd reasonably offer someone else for the same job. 😊
What That Means for You
Let’s say you earn £50,000/year and you pay your spouse £6,000 for legitimate work in your business.
At a 20% tax rate, that’s £1,200 in tax savings—easily enough for a high-end camera upgrade.
If they have no other sources of income, they pay no tax—because it’s below their personal allowance (£12,570)
Even if they pay some tax due to other sources of income, you still keep more money within the household.
Did we save enough for a camera? 📸
Let’s see:
Home office Expenses | £720 |
Pre-Trading Expenditure | £1,000 |
Employing a family member | £1,200 |
Total | £2,920 |
Savings will be different for everyone, but that’s why the name of the article is how to get your next camera for free, not the next 5 cameras 😀
The moral of the story is, any one of these methods can provide great savings for you.
Of course, there’s plenty more you can do—but that’s a topic for another blog!
Already using all these tactics? Good – you’ve covered the basics!
However, this is not enough to ensure the financial prosperity your business needs.
In my experience, many creative business owners make three common (and easily avoidable) financial mistakes that keep them struggling financially!
Chances are, you’re making at least one of them!
Read the blog now and find out! 👇
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