Our specialism as

Accountants for the Creative Industry

MEDIA AND CREATIVE INDUSTRY ACCOUNTING SERVICES

We have worked with a wide range of media and creative businesses, providing them with the help, support and advice they need to help their creative people succeed. We aim to give them a clear direction in their growth strategy so they can achieve their goals over the years.

The creative industry is constantly evolving and businesses in this sector must either keep up or lead the way. We can help you embrace the latest bookkeeping technology, focus on management information, outsource non-core services and much more.

Our in-depth knowledge of the creative sector enables us to provide bespoke support, tailored to the specific challenges faced by creative people.

Our accounting services are designed for your media or creative business and provide real added value from our understanding of your business. This includes:

  • Compliance reporting, including statutory returns, tax returns and self-assessment.

  • A full bookkeeping service, including cloud accounting software and training.

  • Monthly VAT returns if required to help with cash flow.

  • Cash flow forecasting and budgetary control.

  • Payroll administration.

  • Tax planning advice.

  • Help and support in raising finance.

  • Advice on the most suitable business structures.

  • Maximising expense claims.

  • Outsourcing of financial services.

We are proud of our ability to help our clients manage and grow their businesses and ensure they are tax efficient.

To ensure you have access to all the resources you need, we can put you in touch with our professional network to help with raising finance, arranging investments, pensions and fee protection and legal services.

We are committed to our clients and provide relevant, clear and jargon-free advice to help them achieve their goals more quickly.

Here are some of the questions we are often asked:

  • Can I claim all the available expenses and capital allowances?

  • Am I structured in the most tax efficient way?

  • Should I be trading as an individual, partnership or limited company?

  • What should I do if I retire, sell my business or want to buy another business?

If you have similar questions then please talk to us and let’s make a start on your Diamond journey!

I was recommended to use Diamond Accounts by a friend and have been very pleased with all the help, advice and support. I would not hesitate to recommend them.

NATHAN PACEY

DIRECTOR

WHAT IS A CREATIVE BUSINESS?

A creative business is an enterprise that generates income through creative and artistic activities. This includes sectors such as graphic design, writing, photography, film, music and more. Creative businesses often require a different approach to accounting and financial management, with their irregular income, fluctuating expenses and inherent uncertainty. At Diamond, we understand the specific needs of creative businesses and provide bespoke accounting services to help them succeed.

 

UNIQUE FINANCIAL CHALLENGES OF CREATIVE INDUSTRIES

Creative industries face a wide range of unique financial challenges that can impact their growth and prosperity. These include:

  • Unpredictable income: Creative businesses may experience fluctuations in income due to project-based work, seasonal fluctuations or changing client requirements.

  • High overheads: The need for specialist equipment, software and talent can result in high overhead costs.

  • Limited access to funding: Creative businesses may find it difficult to secure funding from traditional lenders, as they often lack conventional business models or collateral.

  • Tax complexities: The tax obligations of creative businesses can be complex, with industry-specific credits and reliefs.

At Diamond, our industry knowledge and expertise enable us to address these unique financial challenges, so that creative businesses receive the support they need to succeed.

 

MAXIMISING TAX DEDUCTIONS AND MINIMISING TAX LIABILITY

For a creative business, maximising tax deductions and minimising tax liability is essential to keeping more of your hard-earned income. Our team of expert accountants is well-equipped to navigate the complex tax landscape, identifying opportunities to reduce your tax liability. We can help with:

  • Claiming industry-specific tax credits and reliefs, such as film tax credits and research and development incentives.

  • Identifying eligible business expenses and ensuring they are accurately documented and claimed.

  • Tax-efficient strategies for income and expenses.

  • VAT and PAYE obligations.

By working with us, you can ensure that you are maximising all available tax deductions and minimising your tax liability, so you can focus on the growth of your creative business.

 

BENEFITS OF WORKING WITH A SPECIALIST ACCOUNTANT

Working with a specialist accountant as a creative business can offer many benefits, including:

  • Access to specialist industry knowledge and expertise.

  • Bespoke accounting services that meet the specific needs of your business.

  • Increased efficiency and reduced administrative burden.

  • Improved financial management and informed decision-making.

  • Tax planning and strategy.

  • Access to a network of contacts and connections in the creative industry.

At Diamond, we are accountants for creatives, with a deep understanding of the unique challenges and opportunities that creative enterprises face. By working with us, you can ensure that you receive the expert guidance and support you need to succeed.

 

FINANCIAL PLANNING FOR GROWTH AND DEVELOPMENT

For a creative business, financial planning is essential for growth and development. Our team of expert accountants can help you develop a comprehensive financial plan that aligns with your business goals and objectives. We can help with:

  • Cash flow management and forecasting.

  • Budgeting and financial modelling.

  • Funding opportunities and investment.

  • Tax-efficient growth strategy.

  • Business structure and ownership.

By working with us, you can establish a strong financial foundation to support your business’s growth and development, so you can focus on what you do best – creating innovative and artistic work.

Transform your business.

Start working bravely. Don’t let your fear of finances hold you back.

Get in touch

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Tell us that you want to join

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We talk to your accountants

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We get crunching the numbers

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You can start chasing your dreams

Transform your business.

Start working bravely. Don't let your fear of finances hold you back.