Frequently Asked Questions

Who are your clients?

We have clients who are actors, children's entertainers, conductors, composers and song writers, music teachers, musicians and singers from all over the UK.

Do you deal with non-performers?

Certainly. We also look after artists; broadcasters; journalists; and others in the arts and media industries.

Are you a firm of Chartered Accountants?

No. We cannot deal with: limited companies; partnerships; trusts; charities.

Are you financial advisors?

No. We do not offer investment or commercial advice or services.

What records do I need to keep?

From day one of self-employment you must keep a record of your income and the expenses you incur. The record can be written or kept on computer but must be properly backed up by retaining payslips, receipts, bank statements etc.

How much tax will I owe?

This will of course depend on how much you earn and how many expenses you have. But as the tax rate is 20%, NIC is charged at 9% and you may be liable to Student Loan Repayments at 9% on a part of your profits, the amount needed to pay the taxman can soon add up. Getting advice early in your career is essential for planning for these liabilities.