Accountant for Artists
Are you a musician, sculptor, architect, painter, singer, actor or dancer? If yes, you are in performing creative arts and can be called an artist. Like most artists, if you are also self-employed or a freelancer and your art provides a second income that you must declare, you are obliged to do a lot of paperwork that can be time-consuming. For a person with a creative mind, doing the tedious work of tax planning and bookkeeping can prove disastrous! We at CoreAdviz are well aware of this and do everything for you. We have a team of accountants who know the specific needs of artists and don’t let their creative minds get engaged in financial paperwork. It does not matter that it is tax returns, self-assessment submissions, or VAT returns; our specialized art accountants will never fail to delight you with their accounting services.
Dedicated Accounting for Artists
Are you a musician, sculptor, architect, painter, singer, actor or dancer? If yes, you are in performing creative arts and can be called an artist. Like most artists, if you are also self-employed or a freelancer and your art provides a second income that you must declare, you are obliged to do a lot of paperwork that can be time-consuming. For a person with a creative mind, doing the tedious work of tax planning and bookkeeping can prove disastrous! We at CoreAdviz are well aware of this and do everything for you. We have a team of accountants who know the specific needs of artists and don’t let their creative minds get engaged in financial paperwork. It does not matter that it is tax returns, self-assessment submissions, or VAT returns; our specialized art accountants will never fail to delight you with their accounting services.
Accounting Services for Artists
Are you a musician, sculptor, architect, painter, singer, actor or dancer? If yes, you are in performing creative arts and can be called an artist. Like most artists, if you are also self-employed or a freelancer and your art provides a second income that you must declare, you are obliged to do a lot of paperwork that can be time-consuming. For a person with a creative mind, doing the tedious work of tax planning and bookkeeping can prove disastrous! We at CoreAdviz are well aware of this and do everything for you. We have a team of accountants who know the specific needs of artists and don’t let their creative minds get engaged in financial paperwork. It does not matter that it is tax returns, self-assessment submissions, or VAT returns; our specialized art accountants will never fail to delight you with their accounting services.
Yes, artists (self-employed or freelancers) are liable to pay taxes in the United Kingdom only if their annual income in a tax year is over £1000, as the yearly allowance granted by HMRC for hobby activities is £1,000.
Yes, a substantial number of artists having an annual income of more than £1000 register as sole traders with HMRC. It is also mandatory to register for self-assessment.
Artists can claim several expenses such as art supplies & materials, insurance, internet, stationaries, accountancy fees, computer, advertising, cleaning supplies, and many more.
UK artists have to register for VAT only if their gross sales of taxable supplies become more than the VAT registration threshold of £85,000.
Generally, if you are gifting art pieces to a charity, they become free from any kind of inheritance tax or capital gains tax.
Our Support
We are a renowned accounting agency for Artists and offer quality assistance and accounting services in compliance with the evolving rules and regulations. Our support services include the following ones:
Our Guidance on the “To do list”
As accounting consultants for Artists, we would suggest you with the following
Reduce Your Overall TAX Liability
Are you a musician, sculptor, architect, painter, singer, actor or dancer? If yes, you are in performing creative arts and can be called an artist. Like most artists, if you are also self-employed or a freelancer and your art provides a second income that you must declare, you are obliged to do a lot of paperwork that can be time-consuming. For a person with a creative mind, doing the tedious work of tax planning and bookkeeping can prove disastrous! We at CoreAdviz are well aware of this and do everything for you. We have a team of accountants who know the specific needs of artists and don’t let their creative minds get engaged in financial paperwork. It does not matter that it is tax returns, self-assessment submissions, or VAT returns; our specialized art accountants will never fail to delight you with their accounting services.
Get Business Structure Advice
Are you a musician, sculptor, architect, painter, singer, actor or dancer? If yes, you are in performing creative arts and can be called an artist. Like most artists, if you are also self-employed or a freelancer and your art provides a second income that you must declare, you are obliged to do a lot of paperwork that can be time-consuming. For a person with a creative mind, doing the tedious work of tax planning and bookkeeping can prove disastrous! We at CoreAdviz are well aware of this and do everything for you. We have a team of accountants who know the specific needs of artists and don’t let their creative minds get engaged in financial paperwork. It does not matter that it is tax returns, self-assessment submissions, or VAT returns; our specialized art accountants will never fail to delight you with their accounting services.
Keep Your TAX Records Handy
Tax invoices and receipts of the last 5 years are required to be preserved. In case the HMRC wants to verify data, they will ask for previous receipts.
Plan for TAX Payments
Try to set aside a part of your regular income to minimize the financial strain during tax payments. You can think of opening a separate savings account for your tax funds.
Ready to Optimize Your Business Finances?
Try to set aside a part of your regular income to minimize the financial strain during tax payments. You can think of opening a separate savings account for your tax funds.