Whether you’re a full-time TV actor, acting is a part-time love that gives you a little bit of extra side income or you’re a family with a child actor, you’ll most likely need to file a tax return; but knowing how to effectively manage your tax affairs can be a difficult thing to navigate.
Taxes are notoriously complex, time-consuming and confusing, especially for those in the entertainment industry – but that’s where an experienced accountant can become your ultimate sidekick!
Why do TV actors need an accountant?
The majority of TV actors will be classed as self-employed, meaning that their taxes need to be submitted via a Self Assessment. This in itself is a complicated and lengthy process that can be difficult to get right, but if you’re both employed and self-employed (meaning you pay taxes through PAYE and Self Assessment) the process gets even trickier.
Hiring an accountant to sort out the financial side for you takes this stress away, leaving you to do what you do best. An experienced accountant will not only ensure that you’re compliant with your tax requirements, but they have the knowledge and expertise to help you make the most of your tax relief and ensure your money works harder (and more effectively!) for you.
This actor’s guide from Backstage provides a brilliant overview of an actor’s responsibility when it comes to paying tax and covers why you should consider hiring an accountant to manage your accounts for you.
Custom-built services to suit your individual needs
Here at Warr & Co, we understand that your specific needs as a TV actor are unique. That’s why we’re proud to provide a fully tailored, custom-built package that’s created entirely around your needs and requirements. We’re on hand for as much or as little advice and support as you’d like, and we’ll closely analyse your needs to help you get the most out of your money.
Some of the services we offer TV actors include:
- Self Assessment
- VAT returns and advice
- Accounts and bookkeeping
- Expenses and tax relief
This accounting service is available to all those working in the entertainment industry, so please do get in touch if you’d like to discuss your requirements in more detail. You can find out more via our Accounting Services For TV Actors webpage.
Book a free consultation today!
Ready to enjoy stress-free tax returns and improved finances as a result? Join the Warr & Co community! We offer a free, no-obligation consultation with one of our accountants, where we’ll take the time to really get to know you, your individual requirements and the type of service we can offer you. Request your consultation now via our website.
So let us take care of the tedious stuff for you so that you can focus on doing what you love doing the most. Lights… camera… action!
© 2019 Warr & Co Chartered Accountants. Warr & Co Chartered Accountants is a member of The Institute of Chartered Accountants in England & Wales (ICAEW). Whilst the information detailed here is updated regularly to ensure it remains factually correct, it does not in any way constitute specific advice and no responsibility shall be accepted for any actions taken directly as a consequence of reading it. If you would like to discuss any of the points raised and / or engage our services in providing advice specific to your personal circumstances, please feel free to contact any one of the partners on 0161 477 6789 or contact us via our website forms. Warr & Co Chartered Accountants are registered to carry our audit work in the UK, our audit registration number is C002961684, for more information please visit www.auditregister.org.uk.