
Your questions answered.

Here’s where we answer the questions we get asked most.
FAQs
General FAQs
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
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
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.
You don’t need to scan/store invoices, but each individual transaction must be recorded digitally - no summaries.
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.
You must use HMRC-recognised software or bridging tools.
Check out our blog on choosing the right software
MTD-ITSA brings in HMRC’s points-based penalty system:
Frequency | Penalty Threshold |
Annual | 2 points |
Quarterly | 4 points |
Monthly | 5 points |
£200 fixed penalty when threshold is met
Additional £200 for every subsequent missed submission
Points expire after 24 months if compliant
You must stay compliant for 12 months to reset
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)
Groups currently exempt from MTD-ITSA include:
Partnerships
Trusts and estates
Non-UK residents
Foreign entertainers with no UK qualifying income
Those with qualifying care relief (e.g. foster carers)
Taxpayers with no National Insurance number
Others (see full HMRC list)
