Why Is an Accountant Specialising in the Creative Industry Essential for Actors, Singers, and Influencers
In the ever-evolving world of acting, music, and social media influence, financial management can be a complex landscape. Specialist accountants who understand the intricacies of the creative industry offer tailored guidance that aligns perfectly with the unique financial challenges faced by actors, singers, and influencers. This tailored approach involves navigating irregular income streams, managing industry-specific […]
Why is Handling an Influencer’s Financial Accounts Different
Handling an influencer’s finances requires a unique approach due to the complexity and variability of income streams involved. Unlike more traditional roles, influencers often deal with multiple revenue sources such as brand deals, ad revenue, sponsorships, product sales, and affiliate marketing. The diversity and inconsistency in income make it essential for influencers to work with […]
Professional Insurance in the Creative Industries
Being self-employed in the creative industry offers unparalleled freedom. However, it also comes with unique risks that can derail your career and finances. That’s where insurance comes in. By understanding your specific needs and securing the right coverage, you can safeguard your business and your future. As a creative professional, your work often involves unique […]
The Tax Compliance Pitfalls to Avoid
Small businesses and sole traders often face numerous challenges, and tax compliance can be one of the most daunting. Unfortunately, many business owners make common tax mistakes that can lead to significant financial penalties. These are some of the more common (and the things you can do to avoid them). Incorrect Record-Keeping Poor organisation and […]
How to Avoid HMRC Taxing Your Savings
Saving money is a crucial step towards financial security, but HMRC may have an eye on that financial cushion you’ve been building. Understanding how savings taxation works and exploring strategies to minimise your tax liability can help you keep more of your hard-earned money. So what can you do to minimise the raids on your […]
The Ultimate Checklist for Getting Invoicing and Payment Right as a Freelancer
As a freelancer, your income depends on getting paid promptly and efficiently. Invoicing is the cornerstone of your financial success, and mastering this process is crucial for your business’s sustainability. Here are some best practices to ensure you get paid on time, every time: Make your Invoices Professional Every invoice should include essential information: Set […]
Protect Yourself – Quick Guide to Professional Insurance in the Creative Industries
Being self-employed in the creative industry offers unparalleled freedom. However, it also comes with unique risks that can derail your career and finances. That’s where insurance comes in. By understanding your specific needs and securing the right coverage, you can safeguard your business and your future. As a creative professional, your work often involves unique […]
Pension Planning for the Self-Employed
As a self-employed individual, securing your financial future is paramount. One of the most effective ways to do this is through pension planning. While self-employed individuals don’t have access to workplace pensions, they can still take advantage of a variety of pension options. So what are your options? Self-Invested Personal Pension (SIPP): Flexibility: Offers flexibility […]
The 2024 Budget and the Business Rate Challenge
Rachel Reeves’ 2024 Budget brought a mix of news for small businesses, particularly in relation to business rates. While some measures were introduced to provide relief, the overall burden of business rates remains a significant challenge for many. It’s important to understand the key changes to business rates Relief Extensions: Small Business Rate Relief (SBRR): […]
Can Salary Sacrifice Work for the Self-Employed
Salary sacrifice is a common financial strategy used by employees to reduce their taxable income, but the self-employed and sole traders often assume it’s not an option. But while it may not be as straightforward as it is for employees, there are creative ways to implement salary sacrifice principles to lower your tax bill. Salary […]
