At Willott Kingston Smith we focus exclusively on creative, communications and consulting businesses. Our clients in the media and entertainment sector include recording companies, performance artistes, TV, film & theatre production companies, venues, commercial production and other related businesses whose income rests mainly on selling the skills of the people involved.
We understand that artistes and business within the sector are presented with unique challenges so we have developed practical solutions for TV production and film companies and specialist services for performers. Many of our clients choose to use these bespoke services for the sector alongside our mainstream audit, accounting and tax services.
Our client focus means that each client works with a media specialist lead partner who is responsible for the whole relationship and who is supported by a team of experts who are experienced within the sector and understand your business.
The music industry
We work for a wide variety of clients within the music industry, from record companies, publishing companies, record outlets and trade associations to high-profile musicians, bands, producers and management companies. We work with businesses from start up to publically quoted. We also have experience and expert knowledge of many ancillary and connected businesses such as agencies, promoters, merchandising and nightclubs.
We advise on a range of strategic issues - for example, how to realise the capital value of a business at the best time and on the best terms. We have helped bands and solo artistes negotiate or renegotiate recording contracts, and have advised on regulatory issues and assisted with withholding tax planning on touring activities, and catalogue and other IP valuation. Ownership succession, buy-outs and start-ups, management structures, employee incentives and pre-sale tax planning all feature regularly among our assignments for record labels and music publishers.
In addition to compliance and regulatory services we provide:
- Intellectual property valuation
- Preparation of royalty statements
- Tour accounting
- Contract advice
- Royalty audits
To find out more about our services to the music industry please contact Geraint Howells.
TV / Film
Our clients have included a wide range of owner managed companies and talent within the industry which has helped us further develop bespoke services for the sector.
Some of the specialist services that we have delivered to our clients include the qualification of British films and the preparation of applications to DCMS for qualification as a British film, liaising with national authorities, monitoring projects and applications to the Foreign Entertainers Unit and the certification of production costs for films and television productions. We also undertake due diligence on behalf of film financiers, film valuations, corporate structuring of co-productions and provide advice on structuring and establishing a number of film funds. We conduct audits of single purpose vehicle companies as well as the auditing of British, European Convention and Co production films.
We provide financial, accountancy and tax solutions and our involvement with TV production and film companies has led us to develop specific services tailored to key stages of their development.
These include:
- Start-ups/management buy-outs plans & negotiation
- Reward and incentive schemes
- Profit improvement plans
- Contract negotiations
- Merger and acquisitions through WKS Results Ltd
- IT advice and project management through KS Consultants
- Ownership succession
- Company valuation
To find out more about our services to the TV and film industry contact either David Childs, Graham Tyler or Cliff Ireton.