Fields of Operation Offered by Media Accountants

Posted by Amit Gupta on January 17th, 2020

Media accountants go beyond just providing general tax and accounting services. Because of their extensive understanding of the media sector, they are able to provide specialised advice to clients who work in entertainment.

Who are their clients?

 

A media accountant in London typically works with:

  •          actors and performers
  •          musicians
  •          directors and producers
  •          creative agencies
  •          record companies
  •          publishing companies
  •          television and film production companies,
  •          independent television channels
  •          television facilities companies
  •          agents and management
  •          film distribution companies

and many other individuals and organisations in the media industry.

Some of them also work with high-profile personalities who may not necessarily be in media but tend to receive a lot of media exposure.

What services do they provide?

 

There are very specific and unique accounting rules and regulations enforced in the media industry, which is why it makes sense to hire a media accountant in London if you work in this arena. Such an accountant can help you with the following:

  •          Seeking funding for projects
  •          Reviewing contracts
  •          Advising on new ventures (due diligence, feasibility analysis, etc.)
  •          Building accounting systems (bookkeeping, payroll, management accounts, VAT return, cashflow forecast, etc.)
  •          Choosing and setting up the right business structure
  •          Protecting your intellectual property
  •          Generating management/development strategies for your media business
  •          Providing workable recommendations for planning and reviews
  •          Minimising your tax burden
  •          International tax services
  •          Personal tax planning
  •          VAT consultancy

Some of the best media accountants in London can even provide ongoing advice on managing the financial side of your growing media business. And if you’re thinking of buying or selling a media-related business, they have the skills, knowledge, and network to help you ensure a successful outcome.

How do you choose the right media accountant?

Experience is key in this specialised area of accounting. Be sure to ask a prospective accountant how many years they have been working with clients in the media industry. Ask them if they currently have clients who are similar to you or your company. 

A media accountant in London understands that clients in the media sector often require assistance right away, so they should be willing to work outside of the usual office hours.

Finally, you want to hire a media accountant in London who can take complete full responsibility for the correctness of your accounting information. They should be accountable if you are ever fined or penalised due to their fault.

About the Author:

 

Amit Gupta, Director, Allenby Accountants.

Allenby Accountantsis an independent accounting firm, located in Uxbridge, West London. We are accountants, business advisers, offering financial services and helping you to achieve your business ambitions. Our offered range of services include accounting, bookkeeping, tax management, VAT management, tax planning, Inheritance tax, capital gains tax issues, succession planning, etc. We specialise in offering services to sectors like medical & healthcare, retail industry, professional services, property & construction industry, charity and not-for-profit organisations and more.

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Amit Gupta

About the Author

Amit Gupta
Joined: December 9th, 2016
Articles Posted: 59

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