Business Expenses   Hobby/Cash in Hand Home Studio Pro External Studio Pro
         
Equipment Investment
(not included in the calculations)
  500-8000 8000-40000 15000-40000
         
Camera Equipment Repair/Renew   0 2000-5000 2000-8000
Camera Equipment Hire   0 0-8000 0-30000
Computer Equipment / pa   0 2000 2000-8000
Workflow/Storage   0 1000 1000-2000
Software   0-700 1000-2000 1000-2000
Website/Webhosting/SEO   25 500-2000 500-2000
Extra Car Insurance   0 0-400 0-400
Pro Memberships/Subs   0-120 600-1000 600-1000
Studio Hire   0 0-2000 0
Business Rates   0 0 - Variable Variable
Insurance Public Liability   0 100 100
Insurance Building/Contents   0 600 800
Marketing
(lowest amount used)
  0 1000-10000 1000-20000
Utilities   0 800 1500
Training/Books/Courses   0 1000-3000 1000-3000
Staff   0 0 0-16000
Insurance Employers Liab   0 0-500 0-500
Accountant/Legal fees   0 1000 1000-4000
         
         
Total Business Costs   1,025-1,845 11,600 - 38,400 12,500 - 55,300
Monthly Business Costs   85-154 967 - 3,200 1,041 - 4,608
Daily Business Costs (/365)   2.8 - 5.05 31.7 - 106 34.25 - 151.50
         
         
Turnover required to make one National average wage (no VAT)   18,724 - 19,544 41,840 - 68,640  
Turnover required to make one National average wage (inc VAT)     50,208 - 82,368 51,288 - 102,648

Daily turnover required
every 230 working days

  81.40 - 85 218 - 358 223 - 446
         
         
VAT   0% 0-20% of all sales 20% of all sales
Company Nat Insurance   0% 12.8% of all salaries 12.8% of all salaries
         
Totals Left for Salary   17699 24,000 24,000
Employee Nat Insurance   0% 12.80% 12.80%
PAYE TAX   0% 20% 20%
         
Net Salary   17699 17699 17699
         
Corporation Tax on any extra turnover/income   0% 20% off all profits 20% off all profits