Accounting for Creatives

From media and entertainment to art and music, we'll help you navigate the complexities of your finance function.

February 22, 2023
Accounting for Creatives

Adding up Creativity with Precision

In the ever-evolving, competitive creative industries, it is vital that accounting services are tailored to meet the needs of creative businesses, adapting as they adapt.

We work with an array of creative clients— from sole traders and freelancers to limited companies.

For these businesses, we have provided not just pure accounts, but growth plans for continuous success and profit.

As a creative opting for Gow and Partners, you’ll receive a highly attentive, personal service. And your accounts manager will get to know you and the ins and outs of your business operation, taking the time to understand your wants as well as your needs.

We are only ever a phone call away, and will always be happy to support you with any query or concern, no matter how small.

 

Decoding Business for Creatives

We have found that creatives are often unsure as to whether they should set up as an individual, partnership or limited company.

We can assess your business model and determine which bracket will serve you best, ensuring that you are structured in the most tax efficient way possible.

We also offer tailored management support, cashflow forecasting and budgets, as well as ensuring that you are claiming for all viable business expenses.

All of this is designed to turn you hard-earned money into long-term wealth. Check out our blog post on Growing Owners Wealth (GOW) for more information.

 

We’ll do the Heavy Lifting

While you turn your thoughts into a creative reality, we’ll deal with HMRC and ensure that deadlines are met, lifting the burden off your shoulders.

Deadline reminder service: when a deadline is approaching, you’ll receive an advance notification making you aware of any documents we require you to provide.

To aid the cashflow of creatives, we also offer monthly VAT submissions

What’s more? We provide the best bookkeeping software the market has to offer, most notably Xero, at a heavily discounted rate, with training available upon request.

Seamless Integration: with our bespoke cloud accounting packages and tailored app advisory, you can streamline your finance function with ease, while maintaining total compliance with HMRC.

 

Exemplar Services

The accounting packages of our creative clients tend to vary, being tailored in accordance with individual needs. Listed below are some examples:

  • Your own designated accounts manager with direct dial
  • Guidance on your legal structure
  • Expert tax advice to maximise efficiency
  • Custom cashflow forecasts with real-life scenarios
  • Management meetings, in line with our Growing Owners Wealth (GOW) solution.
  • Xero cloud accounting, training, and app advisory
  • Receipt capture on the go
  • Streamlined payroll with instant access via Bright Pay Connect
  • Support with Arts Council grants
  • Reminder services for deadlines and payments
  • Assistance with HMRC checks and liaising with companies house

 

Media and Entertainment

At Gow and Partners, we are highly knowledgeable when it comes to both contractor and freelancer accounting. As such, we are fully equipped to help all those working within the media and entertainment industry.

Offering varied expertise, we will help to ensure that you are operating in the most tax-efficient way possible, offering financial advice, as well as taking care of all your accounting needs.

We are aware that those working in media often follow hectic schedules, which is why we make sure that we are only ever a phone call, email, or text message away. Providing a personal, attentive service, we can assure you that your queries and concerns will be attended to promptly.

We make taking care of your finances simple, working to free up time so that you can excel at what you do best.  

 

Artists

Whether you are a freelance or contracted artist, we appreciate the complexity of the arts industry, and take this into consideration when getting to know your business and taking care of your accounts.

Need help with your tax returns, HMRC self-assessment submissions and VAT returns? Gow and Partners has you covered.

Not only do we alleviate the burden of your accounts, but we will also provide you with invaluable financial insights. These help you make more informed business decisions to manage cashflow and accelerate growth.

The service we provide is as flexible as your career, always tailored to your individual needs and wants.

 

Musicians

The music industry is highly unique, and as such, traditional accounting methodologies may not provide you with the flexible, tailored service you require.

This is where Gow and Partners step in.

We are experts in the complexities and intricacies of accounting for media, and as such, can take care of all your accounting needs, freeing up time for you to focus on developing your skills.

We are aware that musicians tend to follow hectic schedules, which is why we offer you receipt capture on the go and prompt contact in response to queries and concerns.

 

Social Media Influencers

Run by tech experts and enthusiasts, we are well aware that social media has taken the world by storm, holding an immense power to inspire trends.

Social media influencers and creators have seen platforms such as YouTube becoming more and more lucrative from a business perspective. Did you know it is now a multi-billion-pound industry?

Managing your content and followers can be difficult when faced with the challenge of managing your finances on your own. And quite frankly, in the ever-competitive social media sphere, this time could be make or break. As such, outsourcing financial management may be the key to your continued success.

This is where we step in— Gow and Partners are digital accountants of the modern age, well suited to take care of all your accounting needs, and to offer relevant, jargon free advice.

Set Yourself up for Success   

‍  

Did you know that we run the highest rated accountancy firm in Blackburn with Darwen?  

‍ 

Book your 30 minute discovery call  today— enjoy a relaxed, no-obligation chat with one of our qualified accounting advisors. We can assess your situation and determine how to best serve and add value to your business.    

Alternatively, you can send us a message with any queries (big or small), and one of our team members will get back to you promptly.