“For the past 40 years, mgr’s music team has quite literally helped clients get their show on the road by managing all their finances for world tours”
Screaming fans probably never give a moment’s thought that behind every mega-successful music act, there is a team of highly specialist accountants. And very often they are from mgr.
Rapidly fluctuating income streams, complex licensing and merchandising deals, on-the-road expenses and fees, chasing royalties from obscure corners of the globe are all handled by mgr. That is why many of the world’s leading music sector players won’t trust any other firm to deal with their accountancy needs.
So whether you’re an individual artist or a global label, mgr has the capacity to help maximise your income from all your UK and international operations. We can minimise your HMRC and IRS tax liabilities by ensuring your incoming fees and royalties are accurately audited and collected. We do this by managing your tax exposure country by country and by making sure all the contracts you sign are optimised to meet your business objectives.
If you are an artist, we can get intimately involved with your daily finances. We help you manage your bank account and living expenses as well as preparing and submitting your tax and VAT returns.
The specialist Music sector services we provide:
Working with artists, managers, tour managers, agents and lawyers
Managing bank accounts for bands or artists, retaining funds for VAT, tax and other operational costs and overheads
Running a diary of all entitlements and registering and managing collections
Reporting profits by activity and profit shares
Liaison with local tax specialists to ensure tax minimisation for each territory as well as for home territory
Preparation of management and annual accounts to monitor activity and for tax filing
Preparation of net wealth statements for personal financial planning
Advice on draft contract for tax and administration as well as for commercial planning
Tax return preparation as necessary to cover all contractual arrangements for compliance with relevant tax regulations
Ensuring accounts, tax and VAT matters dealt with as necessary
Mitigating taxes withheld on international touring income
Tour clearances to minimise tax withheld around the world
Royalty audits to verify income accounted by publishers, record companies and any other licensors
Managing business bank accounts to collect income, pay costs, reserve for taxes and operational costs, and distribute surpluses
Health checks on income sources to ensure registrations are complete
“During the last 12 years, we have found them to be constructive in their approach, with good technical knowledge and helpful considerate staff, always fitting in with our organisational timetables and requirements”
Elizabeth Davies – London Sinfonietta