Minimising Tax for Entertainers: Case Study – 04/10/2021

Having been in the industry since 1991, me and my team of experts have helped over 1000 actors, musicians, content creators and entertainers minimise tax and maximise cashflow so you can focus on the side of your career you are truly passionate about and constantly evolve to meet your business/financial goals.

We had an actor who was trading as a sole trader – their profit for the year was £490,000 and the tax that they had to pay on this amount was £200,432. We recommended they incorporate as a Limited Company instead to save on tax.

We worked out the Corporation Tax as £93,100 and additional tax on the amounts of dividends the client may have taken.

100K – if the client was to draw out 100K for the year as Dividends then the total amount of personal tax they would have paid is £18,840 – Tax saving £88,492

200K – if the client was to draw out 200K in dividends for the year then the total amount of personal tax they would have paid is £54,140 – Tax saving £53,192

We are constantly innovating ways to save you tax and make your business as financially functional as possible.

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The Entertainment Sector can be a confusing area of work – especially if it is your full-time career. Knowing how to take control of your time and money while still adhering to HMRC rules can be a tedious task.

Our Director Andrea L Richards has written an E-Book on the most common mistakes made by Entertainers and expert advice on how to avoid and overcome them. 

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