The old axiom goes that there are only two certainties in life: death and taxes. While impact.com has yet to discover the secret to immortality, impact.com / creator does provide content creators and influencers with the tools they need to get their financial house in order.
This is an especially pertinent moment to discuss finances - and more specifically taxation - as here in the UK, we are approaching some big HMRC (His Majesty’s Revenue and Customs) deadlines for the 2022/23 financial year. Self Assessment is the process used for you to declare and pay any tax owed on any untaxed income. So, for self-employed content creators, if you earned over £1,000 between 6 April 2022 and 5 April 2023, you would need to register for Self Assessment by 5 October 2023 to avoid a financial penalty and then file your Self Assessment tax return online and pay your tax bill by 31 January 2024. To find out if you need to register for Self Assessment, please visit this interactive step by step guide which explains what you will need to do. If you need to submit your first tax return, you can use this helpful step by step guide that’s tailored to you and guides you through the process. A big part of filing is organising your finances; fortunately, impact.com’s new creator platform can help.
Creator is a platform designed to help advertisers and creators discover, manage, create and scale influencer marketing programmes from one interface. The platform has been built to simplify and improve the way advertisers and creators meet and collaborate, and boasts powerful tools to help stakeholders manage the entire process. This includes the platform’s payments facility, which allows any creator to automate and manage their finances, taking some of the load when it comes to the dreaded accounting admin.
For example, the impact.com / creator provides quick access to invoices for the fees and commissions creators make on collaborations. The information is stored - and presented - in a way that is easy to comprehend and manage, which simplifies the tax return process for creators and frees up time to focus on the thing they’re good at: creating great content. You can also use this quick and easy checking tool to see if you do need to complete a Self Assessment tax return this year.
Full-service partnership management
Payments are only one part of what impact.com / creator does to help advertisers and creators work together seamlessly. It really is a one-stop-shop for managing the whole partnership process.
It removes all friction from the discovery process, allowing creators to find new brands and select appropriate partnerships. Searching for brands and campaigns that align with their content strategy and audience is quick and easy, and the platform allows them to filter results by vertical, location and compensation type.
Creators can even approach brands directly and pitch to work on particular campaigns, removing the need to wait for a brand to reach out.
Once a creator has agreed to work with a brand, it’s time to get the contracts signed, and compensation terms agreed. This can also be done exclusively through impact.com’s creator platform, and negotiating flexible payment terms - which might range from flat fees to commission- or performance-based payouts, is fast and automated.
In fact, brands can configure the fastest payouts available in the industry (next-day for flat fees, and 30 days for performance-based campaigns). Creators can also be paid in their local currency and, in the context of this article, automate tax compliance for indirect taxation.
Once a creator has partnerships up and running, the platform manages all workflows seamlessly. Through the dashboard a creator can view their partners, tasks and deadlines, while also submitting deliverables and automate their social metric reports to brands, who can feedback directly through the platform.
Creators can diversify their income streams and increase earnings by generating affiliate links and unique promo codes. This can be done straight out of the platform, allowing them to quickly get their links and start promoting and earning. Another feature gives new product recommendations to creators, helping to redeem gifts that brands automatically send out in return for content creation.
And, with the new impact.com mobile app now available, creators have more flexibility, freedom and control than ever in managing their partnerships on the go via their smartphone or tablet.
So, impact.com / creator covers a lot more than just taxes, then - but that could well still be the function you’ll be most grateful for when those deadlines come around.
If you are keen to understand more about impact.com / creator, the tax deadlines that are relevant to you, or if you just want to have a drink with other creators, you can join us on 13th September in London’s Leicester Square. We will be hosting a night of networking at The Perception at W in London’s where creators and brands will get the chance to mingle, network and seize the opportunity to take stunning pictures in this glamorous setting.
If you would like to join us for this free, but limited attendee, event you can RSVP here.