You are on your way to earning money from your blog – you are collecting stats, you have a media pack and you are looking at Income Streams. However, there are a couple of i’s to dot and t’s to cross before you start taking money and publishing content on your blog.
Registering as Self Employed:
If you are hoping to earn regular money from your blog and live in the UK, then you need to register as self employed, even if you are employed in another job. There is some debate about whether income from blogging is considered casual income or not. The accountants at Brighton Accountants have some helpful advice on this matter:
Broadly, you are likely to be running a business if you have a regular, organised activity with a profit motive, which continues for at least a few months. If the work is one-off, or very occasional (say, a few times per year), or not very organised, or of very low value (say, under £2,000 per year), then it might qualify as casual income.
Our advice is you won’t go wrong be declaring your income as a business and registering as self employed is relatively easy and everything can be done online. If in doubt, register.
If you are running a business, you need to keep track of your income and expenditure. Our advice is to set up an accounting system early on so that it is there when you need it. You can import your bank account statements into a spreadsheet or use an online accounting system like Clearbooks or Kashflow. You may want to get a business bank account as this will help keep things separate and easier to do your accounting.
Declare Your Sponsorship:
To remain on the right side of the Advertising Standards Agency, you need to be sure that any sponsored content on your blog and across social media is declared. It is helpful to have a general statement on somewhere like your about page that indicates that you take sponsored content, but that it is always is declared. You also need to label each post as sponsored. For more guidance on the matter, see our post on the ASA and The Do’s and Don’ts of Writing Review Posts.
You are now on your way to earning money from your blog! You can read the whole series here.