Why do Musicians need Specialist Accountants?
As a musician, your finances are unique. With multiple income streams and industry-specific expenses, working with Accountants who understand the music business is crucial. Here’s why:
Musicians often earn from diverse sources including streaming royalties, live performances, merchandising, and more. A specialist accountant ensures all income is properly tracked, categorised, and reported, helping you stay compliant and maximize your earnings.
The music industry presents unique financial challenges, from managing irregular income to identifying specific tax deductions for expenses like instrumental equipment, studio time, and touring. LEES help navigate these complexities, ensuring you maximize deductions and effectively manage cash flow, even during lean months. Additionally, they can offer long-term financial planning, supporting you with retirement, investments, and saving for future projects, so you can focus on your music with confidence.
How LEES can help
In order to maximise your time, we offer services such as:
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Advice on creative sector tax reliefs
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Show funding and finance
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Bookkeeping
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Annual accounts compliance
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Tax planning and compliance
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VAT treatment and compliance
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Payroll
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Advice on business structures
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Our specialist team act as enthusiastic and trusted advisors to a variety of clients in theatre, ranging from individuals to established theatres. Below are just a few of the venues our clients have performed: