Paying tax as a Personal trainer, and our top tips to help you!

As the saying goes, ‘but in this world, nothing can be said to be certain, except for death and taxes’. So as a Personal Trainer, what should you be paying?

To begin with, we’ll understand what’s the best to get you ready for your taxes.

The first aspect we cannot stress enough is make sure you regularly stay on top of your books and bank account with what you’re paying! We’ve seen first hand the ‘tax anxiety’, which is where individuals leave their whole tax returns for the year to be sorted out the week before. This is the worst possible thing you could do! Be warned, you must always tell the truth! The Government can carry out generic tax exceptions on companies and will even begin checking over your social media to see what assets you have.

The best advice we can give is that you open up a business account! This way you can clearly track income, outgoings, sales and have easy access to receipts rather than having to go through all of your personal transactions to find those business purchases. This can easily be done through an excel spreadsheet, where you can categorise each section of monetary paid in and out! Categories for example could include: Marketing, operations, travel expenses and memberships.

Next we will understand what you can put through your books.

So what can you claim? You are able to claim back expenses for marketing and promotional materials such as labelled clothing, posters and paid social media ads. You can also claim for employee entertainment if you have people working for you, on training days and away days for example. Finally, you can also claim for travel expenses. You can claim millage from 45p per mile up to 10K miles, after 10k miles it then goes down to 25p per mile after 10k miles.

You cannot in anyway shape or form claim for anything personal to yourself, and especially not that car that you’ve seen! You need to realise that if you’re putting too much money into depreciating assets such as cars, laptops and furniture and not spending it on things that would make you money such as education, marketing working materials. You’re not going to last very long. Don’t have your deprecating assets become a burdon.

Finally, when should you do your books and how often?

You need to dedicate time within each week. Little and often is the mantra when it comes to doing your accounts. Having a better stronghold on your accounts enables you to be in firm control of your business finances and ensures you don’t end up in a bad situation!

This enables you to be able to forecast what your earnings are going to be for the future and also give you a good idea as to what your tax payment is going to be, for guys that are not currently tracking, here is a good calculation that you could do to estimate your annual earnings and also have an estimate of the tax bill.

Caluculate your earnings over however many months, then divide by however many months you have worked it out by. Then multiply by 12 for your annual income estimate


£10,000 earned up until May

£10,000 DIVIDE BY 5 = £2,000

£2,000 X 12 = £24,000

20% = Tax (Safe haven) £4,800

Remember if you’re totally useless at organisation and/ or you are struggling with time then you could aways hire an accountant! However, this will come at a price.

<-- Return to Blog