ok this whole paid or not paid thing is still very much in people's minds
i get three types of email
1. I'm the best reviewer in this country I have 10 thousand this, 10 thousand that send me your product I will do a free review I am really well known in the industry do you want to colab.
2. I'm the best reviewer in this country I have 10 thousand this,10 thousand that send me your product I will do a review my prices are competitive I am really well known in the industry do you want to colab.
3. I'm the best influencer in this country I have 10 thousand this 10 thousand that send me your product I will do a free thing I am really well known in the industry do you want to colab.
for me as a maker, it leads to nothing because of a key thing a review does not equal sales all it does is up your image I can do that just by using social media, but it does help. because it is independent so there is a market for it.
however, let's talk about that thing called tax that you pay if you run a business if I send an item to a person to be reviewed, I declare it to claw back the costs that still come out of my profit and I still have to pay the revenue. the reviewer should also declare all the items he receives as in
"You’re legally obliged to declare the financial value of any items you receive as a payment-in-kind, in your annual tax return. To verify the cost of the item or service, you should refer to your agreement from which it was provided. Be aware of this before you sign, and make sure you obtain a hard copy of the agreement. You never know when might need it in the future.
A word of caution too to those brands who are reluctant to pay influencers a cash sum for their services. If you ‘gift’ an influencer or YouTuber a car or a holiday in return for particular deliverables, as above, HMRC requires they be declared as income earned. The issue, of course, is that they may not have the physical funds to service the tax they owe. Ipso facto, this tactic might not prove quite as productive in years to come."
it makes no difference what the item is but it adds up because its not cash or a payment some people see it as "Why Bother" but the revenue and my accountant see it as different "if you went out and paid for it you would have had to of pay for it with cash"
I have no beef with paying for services but then a paid-for service requires a return on the service there is the problem you send the item for free or multiple items you pay say £150, the review comes back and it shit they got the name wrong what the product is, talked about other things the pictures were shite, then the video was dropped over music or youtube Copywrite and you find some trolls hate the person and jumped on and you get no sales..... you're going to be pissed. but at the end of the day if you review or influence and earn above in your day-to-day normal life of £12500 per year then you should pay Tax on what you earn in one shape or form when you do those reviews.
