Film & TV Industry Accountants
Tax and accounting advice for actors
Film and TV production brims with challenges. Technology and equipment has to be procured, maintained and managed properly. Staff, from makeup artists to sound engineers and actors, have to be brought in and catered for. Locations have to be scouted, scenes shot and clips edited. All the while, you have to keep your drive and creativity flowing to turn your vision into reality.
The last thing you want is to worry about the super technical finances, statutory returns, or work out every single benefit in kind you’ve provided so you can pay tax on them. It’s the last thing we want, too, and that’s why we’re here to help film and TV experts with their accounting.
As broadcast media accountants, we can help those in the film and TV industries stay up to date with their statutory obligations. Just to give a snapshot of what we can do for you, we’re able to complete your corporation tax returns fast and efficiently, file your fiddly annual accounts and maintain the books so you can focus on making your project a success.
No doubt you already bring in the experts for every fine aspect of film and TV production – why wouldn’t you do the same with your accounting?
Accountants for the film industry
On top of your routine accounting, as film industry accountants, we can help make your business as profitable as possible, partly by working to reduce your corporation tax liability.
Those in film particularly stand to benefit from Government tax credit and relief schemes. In particular, they can claim film tax relief (FTR) as long as the film is intended for theatrical release, passes the cultural test set by the British Film Institute and saw at least 10% of its core costs spent in the UK.
Eligible companies can then claim 80% of total core expenditure or the sum of their UK core expenditure, whichever is lower.
To get the most out of the tax relief scheme, financial planning is key. Not only can we help you budget for production, but we can also ensure you get the most out of other schemes that can reduce your corporation tax bill.
Accountants for TV productions
As TV production accountants, we’re also perfectly suited to help companies produce programmes in a financially efficient manner.
We can also help you reduce your corporation tax bill if you produce children’s or animated programmes by claiming tax relief.
Any relief scheme has very specific rules that you need to follow to the letter to qualify. It’s our job to get tax right – we’ve been doing it for years – so don’t hesitate to reach out to us to see what else we can do for your company.
We advise on…
- Cloud accounting
- Business expenses
- Annual accounts
- Tax planning
- VAT returns
Call us on 01772 965550 or use the contact form below.
Get in touch
Let's talk about how Alchemy can help your business.