TL;DR:

• Access up to 25% tax relief schemes through specialized accounting

• Manage multi-million pound production budgets effectively

• Navigate complex industry-specific compliance requirements

• Maximize funding opportunities in UK's £116B creative sector

• Structure sustainable financial models for creative businesses

The creative sector is a vital part of the UK economy, contributing £306B daily, yet many artists and production companies struggle with financial management. Here's how ProAccto's expert accountants make a difference:

Tax Relief and Incentives

• Navigate Film Tax Relief (FTR) claims, offering up to 25% in tax credits

• Maximize R&D tax credits for innovative creative projects (up to 33p for every £1 spent)

• Handle Theatre Tax Relief (TTR) at 45-50% and Orchestra Tax Relief (OTR) at 25%

• Process Video Games Tax Relief (VGTR) applications worth up to 20% of core expenditure

Funding Support

• Identify grants from Arts Council England's £446M annual investment pool

• Prepare compelling financial forecasts for investors

• Structure winning presentations for BFI Film Fund's £26M available funding

• Assist with crowdfunding campaigns

Specialized Services

• Manage project-based accounting for productions (£1.5M-£3M average budget)

• Handle international co-production finances

• Process royalty calculations

• Monitor cash flow for seasonal creative businesses

Compliance and Planning

• Ensure IR35 compliance for freelance creatives

• Manage VAT requirements

• Structure tax-efficient business models

• Plan for irregular income patterns

Remember, ProAccto doesn't just crunch numbers – we become your strategic partner in the creative journey. Together, we help turn artistic vision into sustainable business success.

Data sources: UK Creative Industries Council, BFI, Arts Council England (2023-2024)