Accounting
Accounting for the creative industries
All businesses need accounting services to some extent. Books that are kept properly, accounts filed on time, and numbers you can actually use to run a creative business.
Who needs accounting services in the creative sector
WallsMan Creative provides day-to-day accounting for UK creative businesses: bookkeeping
- bank reconciliation
- VAT returns
- management reporting and
- statutory year end accounts filed with Companies House and HMRC.
We work on Xero as a Platinum Partner, and we work only with creative businesses:
- freelancers
- studios
- agencies and
- production companies.
Creative sole traders and freelancers
Irregular income, multiple revenue streams, expenses that don’t fit standard categories.
We keep the records straight and file what needs filing: and from April 2026, keep you compliant with Making Tax Digital for Income Tax.
Creative limited companies
Statutory accounts, corporation tax, director remuneration and the quarterly rhythm of VAT.
One team handling all of it rather than three providers who don’t talk to each other.
Agencies, studios and production companies
Project-level reporting, work in progress, retained clients versus one-off commissions.
Numbers broken down the way your business actually runs, not the way a template says it should.
What's included in accounting for creatives
Income that arrives in lumps: A commission, a grant, a licensing payment, three months of nothing. Accounts prepared on a calendar-neat assumption misrepresent a business like that.
Grants, commissions and awards: Arts Council funding, development grants, bursaries and prize money each have their own treatment… some taxable, some not, some restricted.
Royalties, residuals and licensing:Â Income that keeps arriving from work you finished three years ago needs recognising properly and tracking against the original project.
Expenses that look odd to a generalist: Studio space, materials, sample production, festival submissions, portfolio and showreel costs, subscriptions to a dozen creative tools.
Work in progress: Projects that straddle a year end (half-delivered campaigns, unbilled time) need valuing correctly or your year end profit is fiction.
Cash basis vs accruals: For creatives with lumpy income the choice genuinely changes the tax outcome.
Bookkeeping
Transaction processing, bank reconciliation, supplier and customer ledgers.
VAT returns
Preparation, review and MTD-compliant submission.
Year end statutory accounts
Prepared to FRS 102 Section 1A or FRS 105 as appropriate, filed at Companies House.
Corporation tax return (CT600)
Computation and submission to HMRC.
Self Assessment
For directors and sole traders.
Management accounts
Monthly or quarterly, with commentary rather than just figures.
Confirmation statement
Along with Companies House filings.
Xero setup and training
Chart of accounts built for your business, bank feeds, receipt capture.
Named account manager
An account manager who knows your business and answers the phone.
Frequently Asked Questions about accounting services
We take care of your day-to-day bookkeeping, bank reconciliations, management reporting, quarterly VAT reports, Making Tax Digital and year-end accounts so your records are accurate, compliant, and useful for decision-making.
Yes. We do full bookkeeping, prepare statutory accounts, and ensure compliance with HMRC and Companies House requirements.
Absolutely! You can get regular management reports that summarise profit, cash flow, expenses, margins, and other creative-sector KPIs.
We schedule reminders and reviews around all statutory deadlines, provide compliance checks, and prepare accounts well in advance of filings to avoid penalties.
Yes – accounting€” software organises data, but an accountant interprets it, ensures compliance, identifies tax planning opportunities, and gives actionable financial insight.
We offer flexible payment options, but the pricing of our accounting services also depends on your setup. If you want a clear picture, your best bet is to contact us.
Yes. As part of our accounting service, we can prepare forecasts and budgets that help you manage project timing, seasonal swings, and creative business cycles.
We investigate discrepancies, correct errors, and explain the causes so you understand what happened and how to prevent it going forward.