ENTERTAINMENT AND MEDIA INDUSTRY
The entertainment and media industry is like no other so you definitely need an Accountant that understands the special nature of your sector.
Working in this industry can be somewhat unpredictable. We have worked in the entertainment and media industry for many years, some examples of the areas we have covered are:
Accounts and tax returns for UK entertainers and entertainment companies
Tax returns for UK Companies and Entertainers
Tax Planning to minimise UK tax for UK performers
Dealing with cross border transactions
Overseas double tax treaties
USA residents performing in the UK
Irish residents performing in the UK and worldwide
Touring companies performing worldwide
Dealing with the Foreign Entertainers Unit (FEU)
Liasing with Accountants in the USA and Australia via our international network of Accountants to ensure compliance with local reporting rules
The Foreign Entertainers Unit (FEU)
The Foreign Entertainers Unit (FEU) is a specialist division of HMRC that was set up to ensure that production companies correctly account to HMRC for tax due when non-UK artists/entertainers and sportspersons perform in the UK.
The general principal is that where an overseas resident entertainer or sportsperson works in the UK then they are subject to UK taxation on these earnings and on their UK expenses (including benefits in kind).
Withholding tax must be taken from the performer at the prevailing basic rate of UK tax.
Whenever a payment is made from which withholding tax has been deducted a tax deduction certificate is produced and a copy is given to the Entertainer in order to claim the tax deduction in the jurisdiction in which they are resident. This can be a very complicated are due to different tax rules and jurisdictions.
We have submitted many FEU applications for our clients and act for entertainers subject to FEU deductions so if you need assistance please call us or get in touch by completing the box here.