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Expert Accountants for Musicians in the UK

Are you a talented musician or a record label seeking professional financial advices to take your career to the next level? Look no further! GoForma provides top-notch accounting services tailored specifically for musicians like you. With our industry-specific expertise and certified accountants for musicians, we are here to help you overcome the complexities of music accounting. Let us take care of your financial matters so you can focus on what you do best - creating soul-stirring melodies!

We have used our extensive expertise and experience to serve various industries, including the Musical sector, with our team of specialised accountants for Musicians.

As a valued client of GoForma, you can take advantage of a wide range of services we offer, including assistance with tax returns, HMRC self-assessment submissions, and VAT returns.

As a Musician you'll likely have a flexible schedule with varying workloads and assignments. Consequently, you require an accounting service that can adjust to these fluctuations. By opting for a personalised service that caters to your specific business needs, you can rest assured that you will receive top-notch financial advice at all times.

In our capacity as freelancer, sole trader and contractor accountants, we will manage your accounts while you concentrate on growing your business. Your personal Musician accountant will always be available to provide assistance whenever you require it. You can book time directly in their calendar or contact us by phone, email, or even WhatsApp.

  • Free accounting consultation
  • 50% off for 3 months
  • Prices from £35 per month
  • Simple switching process
Strike the perfect financial chord with GoForma!
Strike the perfect financial chord with GoForma!
Freelancer and sole trader accountant
Tim O

GoForma accountant

Accountants for Musicians

Already have an accountant? We make the process of switching super easy. Learn more

How Musicians Can Benefit from Having a Music Industry Accountant?

As a musician, managing your finances and understanding the complex world of tax laws can be challenging. This is where having a skilled music accountant by your side can make a difference. Here are several ways musicians can benefit from having an accountant:

  1. Tax Expertise: Musicians often have diverse income streams, from performances and royalty earnings to merchandise sales and music licensing. An accountant specialized in music accounting can ensure that you take advantage of all available tax deductions and credits, minimizing your tax liability and maximizing your savings.
  2. Time and Stress Savings: By entrusting your tax affairs to a professional accountant, you can free up valuable time and energy to focus on your music, melodies, and career growth.
  3. Financial Planning: A dedicated music accountant can help you create a strategic financial plan tailored to your unique requirements and career goals. They will work with you to understand your short-term and long-term aspirations, helping you make informed decisions that contribute to your financial success and stability.
  4. Budgeting and Expense Management: A musician accountant can assist in creating a budget, monitoring cash flow, and managing expenses effectively, giving you a clear understanding of your tax position on timely basis.
  5. Royalty Tracking and Collection: For musicians receiving royalties from multiple sources, royalty tracking can become a complex task. An accountant can streamline this process, ensuring that you receive the royalties owed to you quickly and accurately.
  6. Business Structure and Tax Optimization: Whether you're a solo artist, part of a band, or run a recording company, choosing the right business structure can impact your tax liability and legal obligations. An accountant can guide you through the options and help you select the most tax-efficient business structure.
  7. Managing Music Industry Contracts: Music contracts can be complex, and understanding their financial implications is crucial. An accountant can review contracts, negotiate financial terms, and ensure that your best interests are protected before you sign on the dotted line.
  8. Retirement and Investment Planning: Planning for the future is vital, and a skilled music accountant can assist in setting up retirement plans, exploring investment opportunities, and building a secure financial foundation for your post-music career.
  9. Financial Insights and Data Analysis: Music industry accountants can provide valuable financial insights by analyzing your data. This analysis can reveal trends, identify areas of potential growth, and aid in making informed business decisions.

What Expenses Can Musicians Claim

Musicians can claim various expenses to reduce their tax liability. Some common expenses that musicians can claim include:

Instrument and Equipment Expenses:

Musical Instrument and Equipment

The cost of purchasing, maintaining, repairing, or renting musical instruments and equipment used for performances, recordings, or practice.

Travel Expenses:

Travel

Expenses related to traveling for gigs, concerts, rehearsals, or recording sessions, such as transportation, accommodation, and meals.

Studio Costs:

Music Studio

Expenses incurred for renting studio space, engineering fees, recording equipment, and production expenses.

Music Lessons and Training:

Music Lessons and Training

The cost of music lessons, workshops, and educational programs to improve musical skills and knowledge.

Marketing and Promotion Expenses: Expenses for promoting music, including website development, social media advertising, posters, flyers, and other promotional materials.

Professional Fees: Fees paid to managers, agents, and other industry professionals for their services in promoting and advancing a musician's career.

Royalty and Copyright Expenses: Costs associated with obtaining and protecting copyrights, as well as royalty payments to songwriters, composers, or music publishers.

Business Expenses: Expenses related to running a music-related business, such as office supplies, phone bills, and internet costs.

Public Performance Fees:

Public Performance

Fees paid to licensing organizations or societies for the public performance of music.

Music Production Expenses: Expenses related to producing music, including hiring session musicians, sound engineers, and producers.

Why Choose GoForma to Hire Accountants for Musicians in UK?

Choosing the right accounting partner is crucial for musicians seeking seamless financial management and growth in their music careers. At GoForma, we take pride in being the best choice for music accounting services. Here are several reasons why musicians should trust GoForma for their accounting needs:

  1. Dedicated Accountant: Each music client who joins GoForma is assigned a dedicated accountant who possesses specialized knowledge and expertise in music industry accounting. The accountant understands your business and provides personalized accountancy services giving you peace of mind and the freedom to focus on your musical passion.
  2. Industry Specific Expertise: With years of experience in serving musicians, bands, songwriters and music-related businesses, GoForma has gained an in-depth understanding of the unique financial challenges faced by those in the music industry. Our expertise enables us to provide tailored solutions that align with your specific career goals and financial objectives.
  3. Competitive Pricing Packages: We believe that exceptional accounting services should be accessible to all musicians, regardless of their career stage. GoForma offers competitive and transparent pricing packages, ensuring that you receive exceptional value for your investment.
  4. Partnership with Freeagent: GoForma has partnered with the industry leading accounting software - Freeagent. With the use of Freeagent, we streamline and optimize your accounting processes, enhance tax efficiency and productivity and keep you updated with financial records in real-time.
  5. Timely Service and Unlimited Support: Our dedicated accountants are always available to answer your queries and provide assistance whenever you need it.

Who do We Help with Music Accounting Services?

  1. Musicians
  2. Music Bands
  3. Music Producers
  4. Music Managers and Agents
  5. Music-related Businesses
  6. Singers and Songwriters
  7. Music Composers
  8. Record Companies

What does Our Accountants for the Music Industry Help You With?

At GoForma, our music accountants offer wide range of services as mentioned below:

Self Assessment Tax Returns:

We understand that filing self-assessment tax returns with HMRC can be a challenging task. Our experienced accountants ensure that your tax returns are accurate, compliant, and submitted on time. Say goodbye to tax-related stress and let us take care of your income tax affairs.

Corporation Tax Returns:

For music-related businesses, including limited companies, we carefully prepare and file corporation tax returns. We optimize your tax liabilities and ensure that your business complies with the ever-changing UK tax regulations.

Accounting for Musicians:

Our accountants will prepare accurate and detailed accounts, giving you valuable insights into your financial performance and aiding in informed decision-making.

Bookkeeping for Musicians:

Our expert bookkeeping services help you keep your financial records in order, efficiently managing your paperwork and financial transactions.

VAT Registration and Returns:

Our expert CPA for musicians easily manage the complexities of VAT registration and VAT returns. We handle all aspects of VAT compliance, minimizing potential errors and ensuring smooth operations for your business.

Payroll Management:

Our accountants provide seamless payroll management services, taking care of payslips, tax deductions, and National Insurance contributions.

Review of Royalty Statements:

We thoroughly review royalty statements, ensuring that you receive fair compensation for your work.

Contract Analysis:

Our music business accountants review contracts in detail to protect your best interests, helping you make informed decisions before signing any contract.

Company Formation:

If you're forming a limited company, we offer professional guidance throughout the process from companies house registration to each important company formation step.

Tax Planning and Business Management:

We provide strategic tax planning services to optimize your tax position and support your business management goals. With our assistance, you can streamline your financial strategies and maximize profits.

Compliance and Paperwork:

Staying compliant with tax laws involves handling extensive paperwork. GoForma takes care of the paperwork burden, ensuring that your financial records and tax filings are accurate, complete, and submitted on time.

GoForma - Best Music Accounting Firm in London

The stage is set, and the spotlight is on you. Don't take our word for it; read  our Google and Trustpilot reviews to know what our satisfied clients have to say about GoForma's top notch accounting services. Embrace financial harmony and uplift your music career to new heights by choosing GoForma as your trusted accounting partner. Take the first step towards success - get in touch with us today!

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Your package features include:

All your accounting needs sorted with no hidden costs

  • Specialist accountants for Accountants for Musicians
  • Preparation of financial statements
  • Preparation & submission of quarterly VAT returns
  • Preparation of self-assessment tax returns
  • 24/7 access to FreeAgent
  • Tax planning advice to help maximise tax efficiency
  • Assistance with HMRC records checks
  • Quarterly review of your bookkeeping
  • Reminder services for all deadlines and payments
  • Unique partner benefits
  • Specialist accountants
  • Preparation of financial statements
  • Preparation & submission of quarterly VAT returns
  • Preparation of self-assessment tax returns
  • 24/7 access to FreeAgent
  • Tax planning advice to help maximise tax efficiency
  • Assistance with HMRC records checks
  • Quarterly review of your bookkeeping
  • Reminder services for all deadlines and payments
  • Unique partner benefits

Contact GoForma for your Musician Accounting needs

Everything you need to operate your business

Easily set up or switch your company accounting

As Musician Accountants, we will work with you to ensure that your finances are always up to date and organised

If you like to know more about our services, our professional accountants for Accountants for Musicians are here to help.

If you like to know more about our services, our professional Accountants for Musicians accountants are here to help.

  • 1-on-1 dedicated accountant
  • Industry specialists
  • Free company incorporation
  • Book time online easily
  • WhatsApp your accountant
  • Company mail handling

Accounting Software for Musicians

Premium FreeAgent accounting software included

Mobile accounting software on the go

At GoForma, we are pleased to offer FreeAgent access as part of all our competitively fixed-fee accounting packages. By choosing GoForma, you'll automatically have access to FreeAgent online accounting software. FreeAgent has received multiple awards and is widely recognised as the industry standard. It is relied upon by over 100,000 small business owners, including Musicians.

With FreeAgent, you can easily manage your finances no matter where you are. The software allows you to send estimates, invoices, and payment reminders, as well as log and track your expenses, monitor your cash flow, and stay on top of your tax obligations. Thanks to the powerful mobile app, you can manage your finances on the go, giving you the freedom to run your business from anywhere.

  • Simple & unlimited invoicing
  • Mobile accounting app
  • Tax timeline
  • Automatic bank feeds
  • Enhanced expense analysis
  • Automated reconciliations

Contact GoForma for your Musician Accounting needs

Choosing the right accountant

How to make the right choice of an accountant

As Musician Accountants, we will work with you to ensure that your finances are always up to date and organised

If you like to know more about our services, our professional accountants for Accountants for Musicians are here to help.

Trusted by hundreds of Accountants for Musicians

Trusted by hundreds of freelancers, sole traders, contractors and small businesses

GoForma

Read 117 reviews from

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Aggie N
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3
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Extremely helpful, patient, attentive

Extremely helpful, patient, attentive and cares about the needs of their clients. Very glad I switched accountants to them.
Feb 2, 2024
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Noir Space
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1
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Fantastic accounting firm

Fantastic accounting firm for both SMEs. Thank you for the continued support and excellent service.
Nov 16, 2023
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HK
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1
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Thank you

Spoke with Jordan, we needed some guidance on a new venture. Very helpful, patient and knowledgeable on all matters relevant to accounts and new businesses.
Oct 17, 2023
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Keith
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2
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Good price

Good price, a good conversation with an accountant before joining kept me informed through the process.
Sep 22, 2023
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Fujuan Hu
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2
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Easy to Access

The sign-up process is straightforward, and all of the staff members are extremely friendly. The welcome meeting with the accountant was delightful.
Sep 9, 2023
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Damian
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2
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Reliable and professional

Jawad has been very helpful dealing with VAT and other tax issues relating to my business; reliable, well-informed and professional, many thanks.
Aug 23, 2023
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Antonio M
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Exceptional Customer Service

Great customer service and support for a nascent business!
Aug 4, 2023
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Ivana
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Overall excellent experience

After being unsatisfied with my previous accounting firm for many years, I decided to switch to GoForma based on a friend's glowing recommendation. This was the best business decision I could have made!
Aug 1, 2023
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Agnes
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3
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Excellent experience with Goforma

Excellent experience with Goforma. Jordan has been very professional and very patient with me. He has great knowledge and always ready to help. It can be quite stressful at the beginning when starting a new company, but they definitely helped me to make it easy. I’m very glad that I found them, it is great to work with them. I cannot recommend them enough. They are the best!
Jul 23, 2023
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Dominika Wrobel
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1
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My experience with GoForma has been fab!

My experience with GoForma has been really great. I did a lot of research before committing to an accountant and wanted someone that specialises in IT contracting that offers mailing & address services. Prompt replies on any questions I have and timely filing of VAT etc. Highly recommend!
Jul 19, 2023
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Fernbrook Consulting
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Fernbrook Consulting Engineers

The team at GoForma are very responsive and nothing ever seems like too much trouble for the team. Jawad and Jordan are very knowledgeable, and the filings are always accurate and prepared well in advance of submission deadlines. Highly recommended.
Jul 19, 2023
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Sonam Singh
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2
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It was a nice and easy onboarding…

It was a nice and easy onboarding process. Also the accountants were helpful if you had any questions.
Jul 19, 2023
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Aggie N
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3
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Extremely helpful, patient, attentive

Extremely helpful, patient, attentive and cares about the needs of their clients. Very glad I switched accountants to them.
Feb 2, 2024
Ruxandra Gheordunescu
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Absolute pros! Very approachable, knowledgable

Absolute pros! Very approachable, knowledgable and kind people, I highly recommend them!
Mar 28, 2023
Ryan Glaser
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26
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Highest level of service with results that meet and go beyond my expectation

I highly recommend GoForma because of they have produced the highest level of service with results that meet and go beyond my expectations. I wanted a simple way to acquire and consolidate the admin and different services my business needed. Jordan Macey - Head of Accounting ensured I was 100% satisfied through every step of the process, coming on board at exactly the right time to oversee my specific business architecture with super efficiently in the most helpful and professional way. Jordan's adaptability and insight added value immediately to my overall business strategy while reducing overall costs. More benefits are still to come and I look forward to working with GoForma. I feel confident I have gained a trusted highly qualified accredited partner. I am now a full customer using the mid-tier package.
Mar 8, 2023
Antonio Mercurio
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1
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Onboarding process very quick and efficient!

Excellent and Swift service! Onboarding process very quick and efficient! If you have problems the team is there to solve them as quickly as possible! A great experience and service!
Feb 9, 2023
Kate Scodellaro
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5
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I switched from a larger provided to Go Forma and am so glad I did

I switched from a larger provided to Go Forma and am so glad I did. Responsive, thorough and always willing to help.
Jan 18, 2023
Giancarlo Erra
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11
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My only regret is that I didn't move before!

I founded my company and did first year of accounting with a larger provider, that was cheaper and using their own accountancy software and not FreeAgent, and it's been a disaster. Not real interaction or customer care, and their software was a nightmare. I found about GoForma, their more 1-1 customer oriented approach, and FreeAgent that I found immediately much easier to use, and my only regret is that I didn't move before! Very welcoming, patient explaining everything, it just feels like they care. FreeAgent is amazing. Very happy to be with GoForma now that my company is starting gearing up.
Dec 4, 2022
Mariam Aarab
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1
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I recommend it to all UK companies

Really good service and Jawad is a great accountant The freeAgent software is fantastic I recommend it to all UK companies
Jun 1, 2022
Nick Clarke
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1
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I will definitely be choosing goforma going forward!

I had a consultation with Jawad from goforma for a self assessment and registration! He was super helpful and knew exactly what he needed to do! I will definitely be choosing goforma going forward! Thank you!
Apr 28, 2022
Matthew Byers
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1
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Readily available advice and support has been exactly what I needed

I am coming to the end of my first year running a limited company and this kind of hassle-free accountancy experience and readily available advice and support has been exactly what I needed.
Mar 16, 2022

How we help IT Contractors

During onboarding we'll setup your new limited company at a registered London business address.

Start or switch your business over

During onboarding we'll setup your new limited company at a registered London business address. If you already have an accountant then we'll request your details from your previous accountant. We do all the heavy lifting.

Accountant introduction and registrations

You can book in 1-on-1 time with your accountant and we'll get authorisations or register you for HMRC services like accounts filing and self assessments.

Accounting software setup

We'll get you setup on FreeAgent accounting software where you can add your business bank account transactions automatically, send invoices, track taxes due and use the mobile app.

Speak to an Accountant

Heading

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At GoForma, we are pleased to offer FreeAgent access as part of all our competitively fixed-fee accounting packages. By choosing GoForma, you'll automatically have access to FreeAgent online accounting software. FreeAgent has received multiple awards and is widely recognised as the industry standard. It is relied upon by over 100,000 small business owners, including Musicians.

With FreeAgent, you can easily manage your finances no matter where you are. The software allows you to send estimates, invoices, and payment reminders, as well as log and track your expenses, monitor your cash flow, and stay on top of your tax obligations. Thanks to the powerful mobile app, you can manage your finances on the go, giving you the freedom to run your business from anywhere.

  • Dedicated named accountant
  • SMS reminders
  • Dividend and tax calculators
  • IR35 assessment
  • Enhanced tax optimisation
  • WhatsApp your accountant
  • Live chat
  • 1-on-1 accountant calls
  • 250+ help guides
  • 250+ help guides
Speak to an Accountant
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Start your IT Consulting business easily

Prices start from £75/mo

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  • Free company incorporation
  • Business insurance included*
  • Simple invoicing
  • Automatic bank feeds
  • Business banking offers
  • Mobile accounting app
  • Enhanced expense analysis
  • London business address
Speak to an Accountant
*insurance included in Grow package

We take care of all the accounting and filing requirements IT consultants have

Prices start from £75/mo

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  • Financial statements
  • Self assessment tax returns
  • Confirmation statements
  • Company closure
  • VAT returns
  • Monthly payroll
  • Company dormancy
  • Umbrella company Coming Soon
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