Models
Home / Musicians
Accountancy Services for Models
Whether you’re on a high fashion shoot, helping to promote a new product or moving from the catwalk to the catalogue, you’re likely to be gaining revenue at different times from different sources, and even in different countries.
We’ll ensure everything is accounted for – freeing up your valuable time and helping you make the most of your earnings.
What can models claim for?
Expenses are defined as being necessary for the operation of your business. Here are some examples of typical tax deductions available for models:
Are you claiming for?
- Clothing - whilst an obvious one, there can be penalties for over claiming
- Agents fees and subscriptions to professional associations, for example, union fees to Equity, The Model Alliance
- Use of home as an office for relevant admin purposes - correspondence, online meetings etc
- Advertising – any way that you promote yourself and additions to your portfolio
- Travel and related expenses
- Makeup and hair – there does have to be a link to your work
- Health and gym membership – this can be dependent on what you do
- Insurance – any premiums must be deemed ‘wholly and exclusively for the purpose of your business’ we can ensure that any refunds are accurately calculated
Book a call today
- Financial Management
- Expert Tax Support.
- Tax Efficient Image Rights.
We can help maximise your earnings and
- What Our Clients Say
Feedback from our happy clients.
We look after the complicated stuff so you can concentrate on what you do best.
Years Experience
Global Offices
Positive Feedback
- Questions Answered
Your Questions, Answered
How is entertainment accounting different from regular accounting?
Entertainment accounting involves managing fluctuating income, international tax obligations, royalties, residuals, brand deals, and performance-related expenses. We specialize in ensuring that industry professionals remain tax-efficient, compliant, and financially secure, no matter how complex their earnings structure is.
Can you help with international tax if I work abroad?
Yes! Many of our clients work internationally, tour globally, or earn revenue from multiple countries. We provide expert guidance on double taxation treaties, VAT requirements, and foreign income reporting to keep you compliant while maximizing your earnings.
What expenses can entertainment professionals claim for tax deductions?
Common tax-deductible expenses include:
✔️ Travel and accommodation for work
✔️ Agent and management fees
✔️ Equipment and wardrobe (if industry-related)
✔️ Studio rental and production costs
✔️ Professional training and coaching
✔️ Marketing, websites, and self-promotion
We help identify all legitimate deductions to reduce your tax bill while ensuring full compliance.
Do I need to register for VAT as an entertainer?
VAT registration depends on your income level and type of work. If your turnover exceeds £90,000 (UK threshold), VAT registration may be required. However, we assess your situation to determine the best VAT scheme for your specific needs, including handling VAT on overseas income and digital earnings.
Can you help with royalty tracking and image rights management?
Absolutely! We assist musicians, actors, content creators, and other entertainment professionals in tracking royalties, negotiating contracts, and setting up image rights companies to protect and maximize earnings while remaining tax-efficient.
Still have questions? We’re here to help, reach out to us anytime!
Accountants for Models
A modelling career is exhilarating but comes with it’s unique set of financial challenges. From unpredictable income streams and international payments to complex tax obligations, managing finances can be daunting.
Whether you work in fashion, commercial, runway, or influencer modelling, The Showbiz Accountant offers expert financial support to help you manage your earnings, expenses, and tax obligations efficiently.
How We Help Models
Tax & Compliance Made Simple
Navigating the intricacies of tax compliance can be overwhelming, but we simplify the process. We handle your self-assessment tax return, ensuring you pay only what’s necessary while claiming all allowable deductions.
If you receive payments from different agencies, brands, and international clients, we help manage multiple income sources and provide tax planning strategies tailored to your needs.
For high earners, we offer VAT registration advice and assist with any HMRC investigations that may arise.
Managing Agency Payments & Direct Bookings
Models often receive payments through various channels such as agencies, direct bookings, or collaborations.
We meticulously track your income, ensure payments are processed correctly, and help structure your finances efficiently to avoid unexpected tax surprises.
For those working internationally, we offer expert advice on foreign tax obligations and double taxation treaties to ensure compliance and optimize your tax position.
Business Structure & Financial Planning
Choosing the right business structure is crucial for your financial health. Depending on your career stage, operating as a sole trader or setting up a limited company can significantly impact your tax position.
We provide personalised advice on the best setup for your circumstances, assist with company formation, VAT registration, and payroll management if you employ assistants or management staff.
Our comprehensive financial planning services ensure long-term career stability and financial security.
Claiming Expenses & Reducing Tax Bills
Models incur a variety of business expenses that can help reduce tax liability. We help you claim deductions for:
- Portfolio Shoots, Professional Photography, and Website Costs: These are essential for marketing yourself and securing bookings.
- Travel for Castings, Shoots, and International Bookings: Whether it’s local or international travel, these expenses can add up and are often deductible.
- Hair, Makeup, and Skincare Products for Work Purposes: Maintaining your appearance is a business necessity.
- Gym Memberships, Wellness Treatments, and Training Classes: Staying in shape and maintaining well-being are crucial for your career.
- Agent Fees, Legal Contracts, and PR Costs: These are necessary for managing your career and securing work.
- Fashion, Wardrobe, and Accessories Required for Specific Jobs: Often, specific jobs require particular attire, which can be claimed as a business expense.
With expert guidance from The Showbiz Accountant, you’ll maximise tax savings and keep more of your hard-earned income. Our dedicated team understands the unique challenges of the modelling industry and is committed to helping you achieve financial success and peace of mind.
International Taxation and Financial Management
International Taxation and Financial Management
For models who frequently work abroad, understanding international taxation is crucial.
We provide comprehensive advice on foreign tax obligations to ensure compliance with the tax laws of the countries where you work.
Additionally, we help you navigate double taxation treaties to avoid being taxed twice on the same income, thus optimising your financial outcomes.
To further enhance your earnings, we offer strategies for effective currency exchange management, ensuring you make the most of your international income.
Pension Planning and Investment Strategy
A modelling career can be short-lived, making retirement planning essential. We provide comprehensive pension planning advice to help you set up and contribute to a pension plan that suits your needs.
Additionally, we offer tailored investment strategies designed to grow your wealth and secure your financial future. Our guidance on the best savings accounts and plans ensures that you maximise your returns, helping you build a stable financial foundation for life beyond modeling.
Personal Finances
Beyond business finances, managing your personal finances effectively is crucial.
We assist with budgeting and expense tracking by providing tools and advice to help you manage your personal budget efficiently.
Our services also include credit management, offering guidance on maintaining a good credit score and managing debt responsibly.
Additionally, we provide recommendations on the best insurance policies for health, travel, and professional liability, ensuring you have comprehensive coverage for all aspects of your life.
