Touring and Business Management
Writing & Recording
We advise songwriter and recording artist on the most appropriate business structure with regard to safeguarding copyright and tax mitigation. In respect public performance we assist in securing membership of PRS and PPL and ensuring accurate registration of the songs. We undertake a periodic table top audit to ensure the record label and the publishing company are reporting the royalties correctly as contracted.
Bands on Tour
It is the life cycle of the tour that we excel and enjoy most of all. This is the life blood of our practise. We assist in the budget preparation, the mitigation of withholding tax at the contractual front end, the business management during the tour, the tour accounting and variance analysis, and the utilisation of the tax withheld at the back end.
Budget
The budget is a key financial tool for touring bands. We review the budget at the planning stage and ensure it is prudent, reasonable and complete.
Income should be based on contractual guarantees, excluding any optimistic percentage breaks. We review the expenses for completeness. Do they include a sensible provision for withholding, the label override and management commission?
An accurate budget will enable the band to tour with financial certainty.
Withholding Tax
When performing overseas live shows, the overseas promoter has an obligation to withhold income tax at source. For example the withholding tax rates are Belgium 18%, Spain 24%, Portugal 25%, and US 30%.
The mitigation of tax requires proper planning at the front end. We work with the manager, agent and promoter at the planning stage to ensure the correct business structure and contractual arrangements are implemented from the outset.
We recommend arrangements are started at a minimum of 60 days before the first overseas show date. Please note, less than 45 days and the Central Withholding Agreement will be rejected in the US without exception.
The utilisation of the tax withheld at the back end is key to the financial success of the tour. To provide the maximum opportunity to utilise any tax withheld requires the correct financial structure at the tour start and a strong technical knowledge international tax legislation.
Tour Accounting
We compare actual results with budget and investigate any variances.
We calculate the label override and management commission.
The preparation of the tour accounts that are accurate and presented in a timely manner will ensure effective financial control during the tour.