Media is a creative industry. The profile of clients that are provided with the services of media accountants are actors, performers, producers, directors, creative agencies, musicians and freelancers. They will have the same passion for working with the media because it entertains like no other. Normally, media people will be comfortable with and prefer to work with those who can sync with them. These accountants will also work in unsociable hours as the client in this sector needs quick service. Some of the services provided by media accountants are as follows:
- They will advise on setting up an appropriate business structure which includes consideration towards tax issues, nationality/domicile of the people running the business, place of execution of the project, resources required and the target market.
- These accountants will know what information is needed and they will prepare and provide it to the lenders so that you get the required funds to carry on with your project.
- If the media business needs specific advice, the accountants will provide project from all possible angles like feasibility, taxation, funding, reputation, etc.
- Do you earn income from a single source or you have an inconsistent income, you will be provided with the necessary advice so that you can minimise your tax. If someone is going out of the UK or they are coming in to work, you need not have to worry about foreign taxation. This will be taken care of by the accountants. VAT schemes introduced by HMRC will also be taken care of.
- These accountants will also have solicitors who are a specialist in reviewing all kinds of contracts in your sector. You will be provided with advice on how to share the profit, paying to employees and freelancers. But at the same time ensure that your intellectual property is safe and remain yours.
- Media business’s Bookkeeping, payroll, management accounts, VAT return, forecast on cash flow will be taken care of by the media accountants. So, you can rest assured that your business is in safe hands. In case, you suffer any fine or penalty; then the complete responsibility will be taken by these accountants.
- You will also be provided with an accounting system that provides your financial status as they are integrated with your bank accounts. You can attend your accounts anytime and anywhere.
- You will also be advised on the strategy for the growth of your business.
Hire the media accountants today and leave the financial aspect of your business to them and concentrate on your project well.