How we can help
If you work in the music industry, you’ll know the frustrations and complexities involved in ensuring that your accounts and taxes are correct and up to date. However, our qualified accountants can help you. At Axia Media, we can look after your financial affairs, leaving you free to concentrate on your music.
- We work with established and emerging artists and bands, producers and sound engineers
- We’ll liaise with your lawyers, management company and agents both here and abroad
- We’ll give you the best possible advice on your accounts and any taxation issues
Our services are:
Accurate – Fine-tuned accounts
If you’re a musician, you might have income from performances, session work, busking, music teaching, CD/download sales etc. And you could have expenses such as valuable instruments and clothes.
If you’re a sound engineer, you might work in a studio or on tour, with associated travelling and equipment expenses. Either way, we’ll ensure that everything is correctly accounted for.
Reliable – Harmonious tax returns
Our experienced accountants will ensure that you always pay the right levels of tax. And that there are no nasty surprises.
We’ll advise you about the best global tax structure that will minimise your personal and corporate tax liabilities.
Cost-effective – The sweet sound of success
We’ll help you to enjoy your success by handling your financial affairs so that you can concentrate on your work.
We can’t make you rich but we CAN help you to keep as much money as possible from all your hard work. And that has to be music to your ears.
Meeting Your Needs
Here are a few issues you might face and examples of how we can help you:
We’ll help you to maximise your earnings– whether you’re employed or self employed.
- If you’re self employed, we’ll check whether your income is trading income (so you could claim more expenses), and ensure that you pay any tax twice a year via Self Assessment.
- If you’re employed, our experts will make sure that the correct tax is deducted at source by your employer.
- In both cases, we’ll also tell you what tax-deductible expenses you can claim.
We’ll help you to navigate the complexity of UK and international tax laws.
- With Axia Media, your own dedicated tax accountant will optimise your tax affairs, giving you complete peace of mind.
- Even if you’re working on multiple contracts in the UK and abroad, we’ll ensure that you only pay the tax that you owe.
- The UK has a Double Taxation Agreement with many countries but we can minimise the tax you pay.
We’ll help you to avoid the common tax pitfalls facing those in the music industry.
- When you show your gross income, don’t deduct your agent’s commission and VAT.
- We can make a separate claim for the commission and VAT costs.
- If you opt for simplified expenses under the new cash basis, you won’t be able to set off any losses against other income and it could limit your expense claims.
‘Axia have really helped with my affairs, being dual resident in both the UK and the US my affairs can be very daunting and complicated, but they have always managed to advise in the best way possible. I would highly recommend Axia as an accountancy firm to anyone looking for a professional and consistent service.’
Jamie Sanderson (Sermstyle) – Singer/Songwriter
To find out more about how Axia could help your business, call Andy Pollard (Senior Partner) in the UK on: 0203 972 0155, or our US office on +1 424 228 9700.
To schedule a call or email a question please click here.