The entertaining business can be challenging. One moment, you can be inundated with work, and the next, things can seem a lot quieter. Yet, come feast or famine it is essential that you keep your books, file your returns and pay your taxes. Failure to do so can leave you in an even more precarious position.
AGP Consulting’s full suite of accounting, bookkeeping, and tax services can ease the instability of working within the entertainment industry by offering you continuous practical support throughout the year.
Professional bookkeeping services will help you to keep track of all of your income and expenditure throughout the year. This will not only make things simpler when it comes to your annual return but will help you to see areas where you are spending, and where you can make considerable savings.
Our accountants are experienced across a broad spectrum of industries, including preparing annual returns for people working in the entertainment industry. What’s more, once they have prepared your return, your adviser will be happy to talk you through patterns year on year, areas where you can save money, or potential exemptions.
Unless you are an employed entertainer, tax for entertainers is much the same as for any other self-employed person. However, artists may have additional expenses on top of the usual outgoings for freelancers, such as materials, equipment, costumes and props. Your tax adviser will be able to advise you on what can be deducted for tax purposes and will provide you with the advice and guidance that you need to ensure that you pay what is due on time, without incurring additional penalties or costs.
Once your adviser has assessed your category in the eyes of HMRC, they will be able to advise the best way for you to record your accounts in order for them to be maintained correctly throughout the year. By staying on top of your accounts all year long, you will be able to get a better picture of your financial situation and see any areas of extreme profit or loss, as well as making tax calculations simpler at year end.
AGP Consulting’s advisers stay ahead of changes in legislation so that they can provide you with up to the minute guidance, whenever you need it.
At AGP Consulting, efficiency is at the centre of everything that we do. We work hard to ensure that our clients save time and money wherever they can. And the same goes for the services that we provide. We understand that people working within the entertainment industry will typically see peaks and troughs in their engagements, with distinct busy periods and other, quieter, times. Our flexible approach means that you only pay for what you need; you benefit from our skills and experience in keeping books and preparing accounts for entertainers, without paying for services that you don’t need.
We are detail oriented and always ensure an outstanding service to all clients. If you would like help getting to grips with your VAT, get in touch with us.