Newb Needing Some Help

[dj-don 0]

Hi me and my friend have just started djing at our local pubs on weekends and could do with a bit of info if anyone can help

1. can we buy mp3 tracks and share them with each other under a business name? if so how?

2. how is the best way to declare djing money e.g self employed or as a business?

3. whats the best place to buy chart mp3 downloads?

Thanks.

[vokf 0]

Hi me and my friend have just started djing at our local pubs on weekends and could do with a bit of info if anyone can help

1. can we buy mp3 tracks and share them with each other under a business name? if so how?

2. how is the best way to declare djing money e.g self employed or as a business?

3. whats the best place to buy chart mp3 downloads?

Thanks.

 

Hi Don,

1. You cannot share music - basically, this is copyright theft. I assume you mean to run 2 rigs from the same downloads? You are not even entitled to make a back-up (UK has no "fair use" rights) - but providing its kept purely as a backup (ie not used elsewhere) then you should be ok.

 

2. Depending how you have each invested, this venture should either be a Partnership, or Sole Trader (if your friend is simply a roadie or had little investment)

If going partnership route, you should draw up a partnership agreement and get this signed. This should cover things like either party walking away, sickness, depts etc.etc.

Offically, see a solicitor -but unless you've both stumped up thousands of pounds each, an off-the-shelf agreement will be fine- or if your 100% certain there won't be any problems, ever - don't bother with an agreement.

You have 3 months to register with the inland revenue, and should also tell the National Insurance guys. You will probably be able to claim "small earning exemption" which allows you to avoid paying NI on your income. I think the threshold is about £4K/pa.

If you do a Partnership, with a 50/50 split, then the businiess can make 8K profit (4K to you, 4K to your friend) before you will need to start paying NI.

If you're working, you'll almost certainly need to pay income tax on your profits - keep an record of all outgoings (music/kit/fuel/fuses/cables/internet use/electricity/pli/phone etc etc). You will need these to reduce your tax bill.

 

 

3. Lots of places to buy music, 7digital, itunes, amazon, etc etc. Prices vary and some store have deals running (ie 7digital has some £5 albums)

Ensure you get 320Kbps MP3's and not low quality 128Kbps.

 

Hope this helps,

Jason