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Why Use A Specialist Media Accountant?
There are many different specialist sectors in the world of business, and thankfully there are also specialist accountants who can help your business to operate legally and avoid any potential run-ins with HMRC. The TV and media industry is one such specialised area and those involved in this kind of business often find that they need help with their bookkeeping and tax returns. Working in the creative arts doesn't necessarily give you a very good grounding in terms of business knowledge and accounting - but it's an essential element of running your own business or working as a freelancer and cannot be ignored.

Avoiding Penalties

HMRC has recently announced its new Business Record Checks campaign - this means that now, more than ever, it’s essential to ensure that your book work is up-to-date and in good order. Any self-employed person or business owner who is suspected of incorrectly managing their accounts could be liable for fines. This means that if you tend to fill in your records retrospectively, or are not making the right calculations to distinguish between personal and business allowances, you could find yourself in hot water.

If you want peace of mind and confidence in your record keeping and tax returns, the best way to achieve this is by using a specialist media accountant. By using somebody who has the right training and knowledge, as well as experience in your specific sector, you can reduce your tax liability completely legally and save a lot of time and stress worrying about whether or not you're doing your book work correctly.

Using a Creative Arts Accountant to Reduce Liability

While there are plenty of general accountancy services around, when you work in a sector that is slightly unusual, it's always best to find a specialist if you can. The kinds of expenses that you may incur when working in the world of TV and media can vary hugely from more common business types. A media or creative arts accountant will know exactly which of these you can put through your books and which ones will be disallowed in the eyes of HMRC.

Ultimately, your time is precious and could be better spent focusing on bringing in new contracts rather than worrying about whether or not you're getting your accounts right. The tax man is the one area that you can't afford to take a gamble with, so it makes good business sense to pay the small outlay for professional help and advice rather than risk the much heavier financial consequences if you get things wrong. For more information on media accountant and creative arts accountant,Please visit us.