“Clients can be taken by surprise when their YouTube blogs take off and they suddenly find themselves with lots of money flooding in from all over the place. That’s where we can step in and leave them to concentrate on their business”
Overnight success can be hard to manage. The internet has created a whole generation of celebrity bloggers, vloggers and YouTubers who have become very successful, very quickly.
As with any entertainment star’s finances, earning the money is one thing, collecting it and managing its tax implications is another thing altogether – especially if you’re young and relatively new in business and financial matters.
mgr’s specialist social media and internet team is here to help you. We can handle all your financial affairs, so you can concentrate on what you do best. We have many years’ experience in the media and entertainment sector and, although social media and internet stars are a relatively new type of celebrity, you can trust us to help you keep on top of every aspect of your business.
So as well as ensuring the more formal elements of your finances are correctly structured and managed – annual tax returns, corporate accounts, VAT accounting – we’ll help you keep on top of your day-to-day finances too: erratic cash flow, payment of costs, chasing royalties, and assisting your contract negotiation from a tax and business administration perspective.
And if you’d like us to, we’ll also help you make the most of your longer-term personal financial planning: preparing your net worth statements and assisting you with tax-efficient wealth planning and investments.
Working with vloggers, bloggers and Youtubers and other social media celebrities the typical Social Media and Internet sector services we provide include:
Managing bank accounts to collect income and royalties, pay costs, reserve for VAT, other taxes and operational costs, and distribute surpluses
Running a diary of all entitlements and registering and managing collections
Tax return preparation as necessary to cover all your income for compliance with relevant tax regulations
Preparation of management and annual accounts to monitor activity and for tax filing
Advice on draft contracts for commercial planning and tax minimisation
Ensuring accounts, tax and VAT matters are dealt with as necessary