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Your questions answered.
Here’s where we answer the questions we get asked most.
FAQs
General FAQs
General
Orpheus Accounting Ltd is our full service accountancy and tax practice for engaged clients. We use Musicians' Tax Advisor as the education and community part of our business. We communicate with you from both domains but once you become a client of ours, you'll notice that our communications for all matters specific to your business, will come from Orpheus Accounting Ltd.
Yes, we are licenced and regulated tax advisors. We are answerable to our membership bodies for the quality of our service and hold indemnity insurance with reputable providers. If for any reason, we believe we not best placed to give you advice on your particular circumstance – we will say so and explain why.
We don’t give you advice on tax credits, benefits or council tax. If you have a query about one of these taxes you may well find you can access support via the following links:
TaxAid - help with a tax problem if HMRC can't sort it out
Home Page - Tax Help for Older People (taxvol.org.uk)
Low Incomes Tax Reform Group | A voice for the unrepresented (litrg.org.uk)
The Business of Music Community FAQs
The Business of Music
Yes it is! We believe passionately that all musicians, irrespective of their financial means, need access to good quality business, finance and tax advice. For now, we're able to offer the current service for free. Eventually we may charge a nominal subscription amount to ensure we can continue to provide excellent resources to all musicians.
Musician FAQs
Yes, if:
You’re a UK resident
You’ve filed a Self Assessment return
You have an NI number
You’re up to date on tax
Sign up for MTD Beta Testing
Some exclusions apply (e.g., MPs, bankrupts, ministers of religion, foster carers).
NOTE: Beta testers face no penalties for late quarterly submissions, but the Final Declaration must be on time.
If under £90K turnover, you may submit three-line accounts (income, expenses, net profit).
Jointly-owned rental properties: report income quarterly; expenses at year-end.
WATCH OUT: You must submit separate updates for each business activity. So if you're a sole trader and a landlord, that’s 8 updates a year. Two trades? 12 updates!
Yes it is! We believe passionately that all musicians, irrespective of their financial means, need access to good quality business, finance and tax advice. For now, we're able to offer the current service for free. Eventually we may charge a nominal subscription amount to ensure we can continue to provide excellent resources to all musicians.
Orpheus Accounting Ltd is our full service accountancy and tax practice for engaged clients. We use Musicians' Tax Advisor as the education and community part of our business. We communicate with you from both domains but once you become a client of ours, you'll notice that our communications for all matters specific to your business, will come from Orpheus Accounting Ltd.
Yes, we are licenced and regulated tax advisors. We are answerable to our membership bodies for the quality of our service and hold indemnity insurance with reputable providers. If for any reason, we believe we not best placed to give you advice on your particular circumstance – we will say so and explain why.
We don’t give you advice on tax credits, benefits or council tax. If you have a query about one of these taxes you may well find you can access support via the following links:
TaxAid - help with a tax problem if HMRC can't sort it out
Home Page - Tax Help for Older People (taxvol.org.uk)
Low Incomes Tax Reform Group | A voice for the unrepresented (litrg.org.uk)
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