As a classical musician your day-to-day focus will be on performance, engagements, repertoire and career progression. However, it is essential that your financial affairs are well managed and arranged to your greatest advantage.
You might be permanently based in the UK and working here. You may travel abroad for engagements. Are you about to take up a long-term post here or proposing to relocate overseas? Are you based abroad but come to the UK to perform? Whatever your situation, we can advise you on how to manage your tax affairs efficiently.
Our clients in the classical music industry include:
- orchestras and national opera companies
- artist managers
- teachers and academics
- patrons, benefactors and sponsors
- event promoters.
How we can help
At Smith & Williamson, we are adept at advising our clients in the fast-changing world of taxation and we have the capability to do this on an international basis.
As your tax adviser, we work together with your agent, allowing you to concentrate on your professional career. Our role as tax adviser to the International Artist Managers’ Association means we are used to working with the artist management profession.
The importance of good working relationships with the tax authorities should not be underestimated. For the non-resident performer it is essential to comply with UK legislation, overseen by the Foreign Entertainers Unit, and manage withholding taxes. Our relationships and experience enable us to help our clients respond to any issues that arise with the tax authorities.
What we can advise on
We can help you with a range of financial issues affecting your personal affairs, including:
- accounts preparation
- UK tax return filing
- UK and international tax
- VAT advice and compliance
- social security planning
- investment management
- pensions and financial planning.
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.