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tax savings film equipment

How to save tax when buying equipment in the film industry

As a small business owner in the behind-the-scenes film and TV industry, you’re no stranger to incurring regular expenses for your work. Whether it’s restocking SD cards or battery packs, you’re used to budgeting for these consumable items and processing them as regular expenses. But what happens when you have to fork out for a…

film industry embrace digital accounting

Why does the film industry need to embrace digital accounting?

Whether you’re a cinematographer, sound engineer, director or choreographer, you’re juggling a jam-packed schedule while trying to maintain the financial side of your business. After long days on set, you just want your accounting to be as simple and stress-free as possible. Digital accounting is the answer. We’ve seen first-hand how transformative it’s been for…

xero better than spreadsheets

Why is Xero better than spreadsheets?

It’s finally the end of a long week. You’re ready to switch off, curl up on the sofa…but then you remember you’ve got to log and organise your business’s finances in Excel or Google Sheets. It’s a time-consuming, arduous chore you could really do without. You started your small business to do what you love,…

monthly bookkeeping

Why is it better to have monthly bookkeeping than pay for a cleanup once per year?

Great bookkeeping is your business’s little superpower. It lays out your financial data to tell a story, mapping out the past, helping predict the future and acting as a compass for those big, growth-generating decisions. But finding the time to keep your books in good order is difficult alongside running your business. Surely you can…

How many times per year do I need to look at my financial reports for my business?

How many times per year do I need to look at my financial reports for my business?

Financial reports are an important part of understanding where your business is now and planning for where you want it to be in the future. But exactly how often do you need to be reviewing these reports? Advice you find on the internet varies drastically, from some suggesting a simple annual review to others insisting…

ecommerce business cash flow

Why is my ecommerce business lacking cash?

You’ve been working hard on your ecommerce business, and it feels like it’s paying off: you’re making more sales, attracting new, loyal customers and increasing your profit. Despite all these positive signs, there are still times when you feel cash-starved. You’re worried about paying suppliers late, stressing over bills and constantly checking your bank account…

VAT for ecommerce

Am I paying too much VAT for my ecommerce business?

Value Added Tax (VAT) accounts for 17% of the £732 billion of tax revenue collected a year by HMRC. While you’re hyper diligent about not underpaying VAT for your ecommerce business and being hit with costly interest rates or penalty fees, you also don’t want to end up overpaying and losing out on money that’s…

Taking Advantage Of The New EU Vat Rules Coming On 1 July 2021

Taking Advantage Of The New EU Vat Rules Coming On 1 July 2021

What are the changes on the 1st of July? If you sell items with a value of up to 150 euros (excluding the postage cost), you can register for the Import One Stop Shop (IOSS). You can choose which EU country to register for IOSS in. The key is that the total value of the…

Should I Do My Own Book-Keeping?

Should I Do My Own Book-Keeping?

Picture this, you have subscribed to a cloud system such as Quickbooks or Xero, and it’s the end of the month. You login and are faced with 100 bank entries to explain for the month. You don’t go in more than once a month because it’s not a job you enjoy. You sit and try…

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