Accountants for Creative business industries

Accountants for Creative business industries

One of the biggest contributors to the British economy is the creative sector that includes subsectors such as publishing, the fine arts, theatre, film, and music. This means that the sector is the recipient of a lot of income from concerts, downloads, royalties, direct sales, and many other revenue sources. As such, there is a need for professional advice on how to deal with expenses and financial management of monies earned.

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At GM professional accountants, we have skilled and experienced accountants that have been working in the creative industry for years, to become specialists in the sector. Our specialists know all the ins and outs of the sector, including aspects such as how to go about handling the advance on your first novel, how to set up a business, which type of business it should be, and withholding tax for your touring megaband among many other complexities in the industry. While the principles for businesses sometimes tend to overlap, the most important thing that we bring is in-depth knowledge, attention to detail, and a deeper understanding of the creative industry. This makes it possible for us to advise you on how to take advantage of your multiple revenue sources and the tax breaks you are eligible for.

Some frequently asked questions by practitioners in the creative industry are:

1) Should I register for VAT?
2) Who is responsible for looking after my rights including how they are used?

3) I am touring abroad, how do I reclaim tax?
4) How do I monitor downloads and royalties

5) How to structure advance payments?We have specialist media accountants among our ranks at GM professional Accountants. These experts will help answer any questions to ensure that organizations and individuals can minimize their tax bills and maximize their revenues. Most importantly, our movie, film, and media accountants will take on all the burden of managing accounts, leaving you free to be creative.

Our creative and cultural sectors owe much of their success to the creative people and businesses that run them.

Apart from performing arts companies, artists, filmmakers, and digital businesses.

We also work with business creative in:
1) Video games
2) Radio and television3) Photography, video, and film
4) Electronic publishing and software
5) Performing and visual arts, and music
6) Publishing
7) Advertising
8) Architecture
9) Antiques and art
10) Entertainment and digital media
11) Crafts
12) Designer fashion
13) Design

Call GM professional accountants today for a free no obligation consultation on 0208 396 6128.

GM Professional accountants have offices locates in London, Essex, and Manchester.