Our specialist media and creative industries team can help you to focus on the bigger picture.
Tax, audit and accounting services for the media, entertainment and creative industries.
When it comes to HMRC filings and tax-returns, there are no dress-rehearsals. Our specialist media and creative industries team can help you to focus on the bigger picture.
The UK has a vibrant and thriving marketing, media and creative industry which is becoming more and more important to the economic well-being of the country. We understand that businesses in the media and creative sector operate in an extremely competitive marketplace and so your time is precious. Our team can work flexibly around your commitments and take a proactive approach to guiding you through the regulatory and financial issues involved in running your media or creative business. This allows you to spend more time doing what you do best.
At Bishop Fleming, our media and creative tax, audit and accounting team works with over 150 new and established businesses, as well as freelancers and individuals from Cornwall to London as well as throughout the UK. We’re keen to use this expertise to help other clients in similar situations, who might benefit from the shared knowledge. Please be assured, however, that we’re very careful to preserve your confidentiality at all times.
Bishop Fleming worked with us for the last 5 years and actively helped us to manage and grow the business over that time. Their specialist knowledge of the creative industries has been invaluable over that time. Beyond acting as our accountants, they have always sought to understand and advise on the detail of our business. That knowledge and advice has been key to our working relationship. Early in 2014 we sold the business to a large PLC and Bishop Fleming were a key member of our small team of professional advisors. Their knowledge and flexibility allowed us to resolve financial questions at all hours of the day (and night) and helped to make the complex process as straightforward as possible Gus Colquhoun, Director at Jacaranda
I have worked with Bishop Fleming since I acquired Digital and Direct. Their first involvement was to implement a new EMI scheme and I was so impressed with their commercial effectiveness that I then used them for all my tax and accounting needs, despite my interests being located in London. They helped me build and dispose of the company and are now advising on my long term personal planning, I very much see them as part of my core advisory team Ray Fine, Owner of Digital & Direct
Enhanced tax reliefs are available for some media companies if you are involved in the production of:
The reliefs are designed to provide reliefs to culturally relevant productions in the UK and allow you to build upon the already strong reputation to grow further and become a larger player in the competitive global marketplace.
To check if you are entitled to reliefs for the media and creative industries, your projects/productions must qualify and be certified.
Any business that invests, develops or innovates a product or process could be eligible for Research and Development Tax Credits (R&D). R&D tax relief is the government’s largest funding source for businesses in the UK and despite the name, aims to reward businesses based on innovation to encourage investment in technology. However, it is estimated that only 6% of UK companies are claiming their entitlement to R&D tax credits.
Bishop Fleming is highly experienced in advising companies on their eligibility to R&D tax relief and making claims on their behalf. R&D tax credits are a complex area which not only applies to a product itself, but also the services or processes surrounding the product should not be overlooked. A successful R&D claim could significantly reduce corporation tax payments meaning more cash in your business to fund further investment in innovation.
Tax planning for businesses and individuals 2018: Download our guide here.
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Posted by Press Release on September 28, 2017
Top 30 advisory firm, Bishop Fleming, said companies in the Westcountry and in the Midlands Engine are continuing to miss out on millions of pounds of research and development (R&D) tax credits. The R&D tax […]
Posted by Bishop Fleming on September 7, 2017
Bristol-based top-40 accountants Bishop Fleming have taken to the skies to highlight the city’s rising ambitions, and to encourage local businesses to exceed their own expectations in generating growth and opportunities for the area. The […]