Accountants for Actors, Celebrities and Entertainers in the UK

Why Actors Need Specialist Accountants?

Actors have unique financial needs that set them apart from most other professions. Specialist accountants who understand the entertainment industry can make a huge difference in keeping your finances organised and maximising your tax savings. Here’s why:

1. Understanding of Industry-Specific Challenges: Specialist accountants for actors have in-depth knowledge of the entertainment and film industry. They understand the unique challenges you face, such as managing income from multiple sources like TV, theatre, commercials, or royalties. Their expertise allows them to provide personalised advice that aligns with your career and financial goals.
2. Irregular Income: Unlike a regular salaried job, acting income can fluctuate from one project to another. A specialist actor accountant can help you manage this uncertainty by creating a strategy for tax planning and savings, ensuring you're covered during quieter periods.
3. Claiming Expenses: As an actor, you may need to travel for auditions, buy costumes, or pay for training and coaching. An expert accountant for actor knows what expenses are tax-deductible and can ensure you claim everything you're entitled to, reducing your tax bill.
4. Self-Assessment Tax Returns: Most actors are self-employed and need to complete a self-assessment tax return each year. A CPA for actors can guide you through the process, ensuring you meet all deadlines and submit the correct information.
5. Freelance Work and Multiple Income Streams: Many actors have income from multiple sources—TV, theatre, commercials, voice work, and more. A specialist accountant can track and manage these multiple income streams, helping you file taxes correctly and avoid any mistakes.
6. Tax Relief for Creative Professionals: The entertainment industry offers specific tax reliefs and allowances. A specialist accountant understands these tax reliefs and can ensure you take advantage of them, reducing your overall tax liability.
7. VAT Registration: If your earnings reach the VAT threshold, you may need to register for VAT. An accountant who understands the needs of creative professionals can help you with VAT registration and compliance, ensuring you meet all requirements.
8. Pension and Long-Term Savings: Many actors work on short-term contracts, which can make long-term financial planning difficult. A specialist accountant can help you set up a pension and make wise savings decisions, giving you financial security for the future.
9. Financial Planning for Auditions and Projects: When you’re preparing for a new project or audition, the last thing you want to worry about is your finances. A tax accountant for actor can help you plan for these periods and ensure your taxes and paperwork are in order.

Actors Tax Deductible Expenses:

As an actor, there are various expenses you can claim back on your tax return, reducing your overall tax bill. Here’s a list of common expenses that are deductible for actors:

1. Costumes and Props

• Outfits, costumes, and props specifically purchased for roles or performances.
• Maintenance of costumes, including dry cleaning and repairs.

2. Travel and Transport

• Mileage for travelling to auditions, rehearsals, or performance venues.
• Public transport fares, such as train, bus, or taxi costs for work-related journeys.
• Parking fees or toll charges incurred while travelling for work.

3. Training and Professional Development

• Acting classes, workshops, and training courses to improve skills.
• Subscriptions to online acting platforms or resources.

4. Professional Memberships and Union Fees

• Memberships to professional bodies, such as Equity or Spotlight.
• Union fees and other industry-specific association subscriptions.

5. Agent Fees

• Commission and fees paid to agents or managers for securing work.
• Marketing materials created or distributed by your agent.

6. Audition Costs

• Costs associated with attending auditions, including travel and preparation.
• Expenses for self-taped audition setups, such as lighting or recording equipment.

7. Marketing and Promotion

• Creating and maintaining a professional website or portfolio.
• Costs for headshots, showreels, and other promotional materials.
• Advertising or marketing campaigns related to your acting career.

8. Home Office Costs

• A portion of your rent, utilities, and internet costs if you use part of your home dedicated to practising, rehearsing, or working on your acting career.
• Furniture or office supplies used exclusively for work, such as a desk or chair.

9. Miscellaneous Expenses

• Haircuts or grooming costs specifically required for a role.
• Books, scripts, or research materials needed for performances.

Why Choose GoForma as Your Accountants for Actors in London?

1. Entertainment Industry Expertise: We specialise in supporting actors and performers, offering tailored advice that fits the unique needs of the entertainment industry.
2. Dedicated Accountant: Work directly with a dedicated accountant who will be your go-to point of contact for all your accounting needs, offering personalised advice and helping you stay on top of your finances.
3. Competitive Pricing Packages: We offer clear, upfront pricing with no hidden fees, making it easy to understand the cost of your accounting services.
4. Certified Accountants: Our team of entertainment accountants are certified professionals, with extensive experience in handling the finances of actors and performers.
5. Free Access to FreeAgent Accounting Software:  As a proud partner of Freeagent, we provide free access to FreeAgent accounting software. It helps you track your income, expenses, and taxes effortlessly.
6. Responsive Support: At GoForma, we provide unlimited support via email, WhatsApp, and phone call. Whether you have a question or need help with your finances. We’re always here for you.

What Do Our Accountancy Services for Actors Include?

At GoForma, we offer a range of tailored accounting services to help you manage your finances with ease, maximise your tax savings, and plan for the future. Here’s how:

Self-Assessment Tax Returns:

Our expert entertainment accountants ensure accurate and timely filing of your self-assessment tax returns, maximising allowable deductions and minimising your tax liability. Say goodbye to the stress of tax deadlines and penalties.

Business Structure Setup:

Our experienced tax experts for actors offer expert advice on whether to operate as a sole trader, partnership, or limited company. We’ll guide you through the setup process, ensuring you choose the most tax-efficient structure for your career and future goals.

FreeAgent Integration and Software Setup:

We offer FreeAgent accounting software for free to our clients. We’ll set it up and guide you on how to use it, making managing your finances simple and efficient.

Company Formation:

For actors looking to establish their own production company, we offer seamless company formation services, guiding you through the process and ensuring compliance with legal requirements.

Corporation Tax Returns:

For actors with limited companies, our entertainment tax accountants will guide you through corporation tax planning, deductions, and filing, so your limited company stays compliant and tax-efficient.

Accounts Preparation:

Our accountants for entertainers handle the preparation and filing of your company accounts, ensuring they meet all legal requirements. Our team ensures your financial records are accurate, up to date, and ready for submission to HMRC and Companies House.

Bookkeeping:

Keep your financial records organised and up-to-date. Our bookkeeping services ensure every income and expense is tracked, making tax time seamless.

VAT Registration and Returns:

Our accountants for entertainment industry handle the entire process of VAT registration, ensuring you are compliant with HMRC regulations, and file your VAT returns efficiently to streamline your tax obligations.

Payroll Services:

GoForma takes the burden off your shoulders by providing hassle-free payroll management, ensuring that your payments are processed accurately and on time.

Capital Gains Tax Advice:

Whether you’ve sold a property or other assets, our accountants for celebrities provide expert advice on capital gains tax, helping you minimise liabilities.

Expense Management:

Never miss a deductible expense again. We help you track and categorise your work-related costs, ensuring you maximise your tax savings.

Royalty and Residual Management:

Our film accountants manage and track royalties and residuals from your projects, so you always know what you’re owed and when payments are due.

Income Management:

With irregular income being a part of acting, we’ll help you plan and manage your earnings effectively, ensuring steady cash flow throughout the year.

Who Do Our Entertainment Accountants Serve?

Our entertainment accountants specialise in supporting a wide range of professionals in the creative industries. Here’s who we help:

• Actors and Actresses
• Voiceover Artists
• Musicians
• Singers
• Dancers and Choreographers
• Directors and Producers
• Writers and Screenplay Artists
• Film and TV Crew Members
• Composers and Sound Designers
• Photographers and Visual Artists
• Theatre Performers
• Comedians
• Film Agencies

Switch Accountants to GoForma

Switching accountants can feel like a big decision, but at GoForma, we make the process simple, smooth, and stress-free. If you're not happy with your current accountant or you're looking for a service that understands the unique financial needs of actors and other creatives, switching to GoForma is the right choice.

1. Schedule a Free Consultation

The first step is to get in touch with us. You can book a free, no-obligation consultation where we’ll discuss your current financial situation, your needs, and how we can assist you.

2. Request Your Financial Records from Your Previous Accountant

With your permission, we’ll contact your current accountant to request all the necessary financial records. This includes any pending tax returns, financial statements, and relevant documents.

3. Set Up Your GoForma Account

Next, we’ll set you up with your GoForma account, where you’ll have access to our accounting software and tools. Our team will walk you through the process and make sure you're comfortable using the system

4. Ongoing Support and Service

Once everything is in place, we’ll provide ongoing support throughout the year. Whether it’s preparing for your tax return, answering questions about your finances, or helping you manage your income, we’re here to help.

Accountants for Entertainment Industry You Can Trust!

At GoForma, we are committed to supporting actors in managing their finances effectively, so you can concentrate on your acting. Our team is here to ensure you stay on top of your financial responsibilities and take full advantage of every opportunity to maximise your earnings.

Don't let financial worries overshadow your acting career. Partner with GoForma, the leading accounting firm for actors to handle all your accounting burden. Check out our Google and Trustpilot reviews to see the satisfaction of our clients. Let us take the stress out of your financial management, so you can concentrate on performing.