Why Every TV Producer Needs an Accountant Who Understands the Industry

Behind every successful production—whether it’s a short indie film or a full-scale TV series—is a producer juggling scripts, schedules, and spreadsheets. While the creative side may get the spotlight, the numbers behind the scenes are what keep the cameras rolling. 

That’s where proper accounting and bookkeeping come in. At Creative and Numbers, we specialise in supporting creative professionals, including TV producers, with expert tax and accounting services tailored to the UK entertainment industry. In this blog, we’ll walk through why working with an accountant who understands production is crucial to the success of any TV project. 

The Business of Producing 

TV production is a creative venture, but it's also a serious business. From securing funding and managing crew payments to handling location costs and equipment hire, there are a lot of financial moving parts. 

When producers don’t stay on top of their numbers, budgets can balloon, tax deadlines get missed, and funding can dry up fast. That’s why bookkeeping for TV producers isn’t just a nice-to-have—it’s essential. 

Understanding Budgeting, Funding, and Cash Flow 

Most UK TV productions rely on a mix of funding sources—broadcasters, private investors, government grants, or even crowdfunding. Keeping track of who paid what, and when, is vital. A specialised accountant for TV producers can help you: 

• Create accurate budgets before production begins 

• Monitor spending throughout production 

• Forecast cash flow and avoid shortfalls 

• Track restricted vs. unrestricted funds 

Bookkeeping for TV producers must be detailed and dynamic. It needs to adapt as your project evolves, and having a professional on hand makes that a lot easier. 

VAT in TV Production 

If your production company has a taxable turnover of more than £90,000 in a 12-month period, you must register for VAT. Even if you're under the threshold, registering voluntarily might allow you to reclaim VAT on high-cost expenses like camera gear, lighting, and studio hire. 

However, VAT in the creative industries can be complex. For instance: 

• Some grants and subsidies may fall outside the VAT scope 

• Cross-border work (e.g. international crew or distribution) may require special attention 

• Invoicing correctly is critical to avoid compliance issues 

Accountants for TV producers can guide you through these regulations and ensure you’re not paying more tax than necessary. 

Managing Payroll and Contractor Payments 

TV productions often involve hiring freelancers, actors, editors, and crew. Understanding how to pay them correctly—whether under PAYE, as subcontractors, or via loan-out companies—is vital. 

An experienced accountant can help you: 

• Set up proper payroll systems 

• Ensure tax and National Insurance is correctly calculated 

• Handle holiday pay and pensions if required 

• Comply with IR35 rules for off-payroll working 

Avoiding errors here can save you from HMRC penalties and protect your production from legal headaches. 

Reporting and Compliance 

Whether you're applying for public funding or preparing for an audit, having organised financial records is key. An accountant can prepare clear, professional reports that: 

• Satisfy investor or grant body requirements 

• Stand up to HMRC scrutiny 

• Help you reflect on project profitability and future planning 

Bookkeeping for TV producers isn't just about keeping the books tidy—it's about giving you the clarity to make smart decisions. 

Why Work With Accountants for TV Producers? 

Accountants who understand the fast-paced, ever-changing world of production are rare—but invaluable. At Creative and Numbers, we speak your language. We’ve worked with countless creative professionals across the UK to help them navigate: 

• Tax returns and VAT 

• Production budgeting 

• Crew payments and payroll 

• Funding compliance 

• International income 

With us in your corner, you can stay creative and focused, knowing the financial side is covered. 

Let Us Handle Your Numbers So You Can Focus on Your Creativity! 

You bring the vision, the scripts, and the talent. We'll handle the invoices, tax returns, and spreadsheets. If you’re a TV producer looking for practical, creative-friendly accounting advice, we’re here to help. 

Contact Creative and Numbers today to speak with accountants who truly understand your world.