If you’re an OnlyFans creator exploring or already utilising Fansly, you’ve likely noticed that the VAT landscape is not as straightforward as it might seem. While both platforms share similarities, the VAT rules governing Fansly can be distinctly different and often misunderstood by general UK accountants, even ones who claim to understand OnlyFans.
The Confusion with VAT on Fansly:
OnlyFans has been under the spotlight for VAT obligations, where the platform handles VAT on behalf of non-VAT registered creators. However, Fansly’s approach to VAT for UK creators can be less transparent, especially regarding how and when VAT should be accounted for. 

 

Why Generic Accounting Won’t Cut It:
Many UK accountants, while knowledgeable in general tax matters, might not be well-versed in the specific VAT intricacies of platforms like Fansly. This can lead to:
  • Misinformation on VAT obligations.
  • Inefficient tax planning, potentially leaving money on the table or causing compliance issues.
Seek Expert Guidance:
For OnlyFans creators who have branched out to Fansly, it’s crucial to consult with an accountant who specialises in digital content platforms:
  • Niche Understanding: An expert will understand the specific VAT rules for each platform, ensuring you’re compliant and optimising your tax position.
  • Tailored Advice: They can provide advice on how to manage income from multiple platforms.

 

If you’re using Fansly alongside OnlyFans, don’t navigate these waters alone or with general advice. An accountant with expertise in this niche will not only help you avoid VAT pitfalls but also empower you to make the most out of your earnings. Reach out to an expert today to ensure your financial strategy is as innovative and effective as your content creation.