Accountants for the creative industries
How can you help me manage my accounts for my creative business?
We offer a full range of accountancy services for creative freelancers and creative agencies.
● We can help you complete and submit your accounts and tax returns to Companies House and HM Revenue and Customs
● We can help you with your IR35 compliance if you are a creative freelancer or a creative agency looking to hire a freelancer
● We can offer advice on tax planning for your creative business.
● We can advise you on any creative tax reliefs that you can claim.
● We can help you grow your business with our higher level business advisory services
We specialise in the creative industries and we can help you with our cost effective service to manage your accounts and grow your business.
Bookkeeping and accounts
We can help you keep your business finances in order and up to date. We can set you up on an online bookkeeping software such as Xero or Quickbooks and help you keep your accounts and books up to date.
You can connect your bank account and bring all your transactions directly into your accounting software. We can help you manage your expenses effectively using Dext and make keeping your records up to date quick and easy.
We can help automate your accounts and reduce the strain on you and your team in keeping your books up to date. Having all your invoices and expenses in an online software will make your life easier and mean that you can concentrate on running your business.
IR35 Compliance
The changes to the IR35 regulations in April 2021 will affect you if you are an individual creative freelancer or a creative agency. The changes to IR35 pushes the decision if a contract is outside or inside IR35 back on to the company that pays the worker. If you engage a worker directly without using a recruitment agency that is your creative agency.
If you are hiring workers in the creative sector you need to be aware of the changes to the IR35 regulations and be able to assess your workers effectively and to make sure that you are deducting the correct taxes from them. This change will affect all creative professionals either if they are working as a freelancer or if they are the owner of a creative agency.
We can help you check your contracts that you give to your workers for IR35 compliance and can guide you on the right way to deal with these workers to make sure that you protect your business.
Tax Advice and planning
As you start to grow your business you need to start to take notice of the taxes that you pay. You need tax and planning to make the most of your tax allowances and to make sure that you are paying the correct amount of tax.
These are both services that we can offer to our clients who work in the creative industries. We can help you develop a strategy for paying yourself from your company and also to make sure that you get the right advice if you are looking to make investments to plan for your future.
Having a regular tax review will make sure that you are aware of any new opportunities to make tax efficiencies and get more out of the business that you have worked so hard to build.
Tax Credits and Tax Reliefs
There are a number of tax reliefs that are open to freelancers and agencies that are working in the creative industries. These are Film Tax Relief, Video Games Relief, Children's Television Relief and Animation Relief.
These reliefs work in a similar way to the research and development tax credits. If you are eligible to claim these reliefs, they can either reduce the tax that you are paying or can come back to you as a refundable tax credit.
We can give you advice whether or not you are eligible to claim any of these reliefs and can guide you through the process to claim them in your tax return.
Business Advisory
The aim of any creative entrepreneur is to grow their business. To have a great business that gives them the lifestyle that they want and also produces work that they are proud of. We are passionate about helping you grow your business and having this personal and creative freedom that you want.
This is why we created our business advisory services. These will help you plan for your business and look towards the future with our cash flow and budgeting reports. We can make sure that you are not overspending in your business and that you are getting the highest return for the revenue that you are earning.
We can help keep you accountable and track your progress to making the changes needed in your business to get it to where it needs to be.
Next Steps
If you are keen to grow your business and make your accounts management function a lot easier please arrange a call and we can discuss how we can help you.
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