Performing Arts Schools Accounting Services

We help Performing Arts schools get control of and understand their finances so they can stay busy teaching and inspiring performers.

Accountants for Dance & Performing Arts Schools | Atek Accounting

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Support for Performing Arts Schools

Atek is perfectly poised to help ensure you are making smart decisions based on a sound financial understanding of your business. We love helping dance, drama, and music schools make decisions to become more profitable. We’ll help you find gaps in cashflow and opportunities for growth you may not see.

As a school in the Performing Arts sector, you need to be aware of the specific accounting considerations that apply to your business, particularly around VAT requirements. Generally speaking, dance, drama, film, and music schools need to keep accurate records of their income and expenses and file tax returns with HM Revenue & Customs. You may also need to register for VAT if your turnover exceeds a certain threshold. The specific accounting requirements for your school depend on a number of factors, including the size and structure of the school, whether it is registered as a company or a charity, and whether you operate as a sole trader or partnership.

Our Core Services

Accounts & Tax Preparation

This is a given, and we do it well, giving you peace of mind that everything is in order.

Strategy & Planning

Critical reporting will help you understand what the numbers mean, so you can make the right decisions for your business.

Day-to-Day Administration

Don’t let the admin work distract you from running your core business.

Xero

We are Xero Certified, so you can leverage the UK’s leading cloud-based accounting platform.

Key Considerations for Performing Arts Schools

Tuition Fees

You need to keep track of tuition fees paid by students and ensure that they are properly recorded as income.

Expenses

Your school will incur a range of expenses, such as rent, utilities, costumes, and music. These expenses need to be properly recorded and documented.

Payroll

If you employ staff, you will need to ensure that payroll taxes are deducted and paid to HMRC and that accurate records are kept of employee salaries and benefits.

Grants and Donations

If you receive grants or donations, these must be properly recorded and accounted for.

Depreciation

If your dance, drama, or music school owns assets such as dance floors or sound systems, you need to account for depreciation over time.

VAT

VAT rules can be tricky and depend on your company structure, teacher staffing approach, and what subjects are taught. We can help you sort through the complexity to ensure compliance.

Performing Arts Schools include:

Dance schools, drama schools, dance studios, stage schools, acting schools, theatre training, performing arts studios, and film schools.

I recommend Kerrie Jenkins at Atek Accounting. Extremely experienced and knowledgeable. To boot, she has been very supportive of me. I know that is not a normal trait one might look for in an accountant, but anyone who starts and runs their business knows well how lonely and tough it can be at times. She has been a great support to me and helped with many decisions.

Interested in learning more?

Give us a call; let’s chat about our services and see if we are a good fit for you.