TaxPersonal TaxMoney’s not too tight to mention

Money's not too tight to mention

Accountancy’s entertainment specialists are backing a bid by Tony Blair’s creative industries taskforce to estimate the revenue from UK musicians, film-makers and other creative professionals.

KPMG is helping British Music Rights compile figures for the taskforce’s music group, which includes Simply Red singer Mick Hucknall (above).

KPMG tax partner Bob Watts is working with the film group to analyse the effect of last year’s Budget tax breaks on film production.

‘The government would like independent benchmark figures of the industry’s earnings to provide a basis for year-on-year comparisons,’ said KPMG entertainment and media partner David Murrell.

While the accountants’ involvement currently amounts to voluntary advice, Murrell anticipates the taskforce will generate business opportunities.

‘The government will need to commission outside help. These markets are specialised and relatively small. Even in accountancy, only a handful of people have good information at their fingertips,’ he said.

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