My Club Tax

We provide a bespoke accountancy, tax & financial advice service for the sports industry

Being great Accountants & Tax Advisors is more than just preparing and filing numbers. We love working remotely with sports professionals to give them the tools and advice they need to make sure they protect their image and their assets whilst ensuring they have the most tax efficient structure possible.

 

So why choose us?

  • We are a firm of Chartered Accountants.
  • We are trusted by our clients.
  • As Chartered Accountants we are also tax experts and advisors so you can be sure that you are getting the best advice possible.
  • We have a personal approach to our clients and build long lasting relationships.
  • We have a reputation for delivering outstanding service.
  • All of our Team work remotely which means we are available to contact outside of normal working hours if you need us.
  • We are all big Sports Fans, so we will have something in common with you already.
  • We have all the services you need under one roof, saving you time looking for each individual service.
  • We offer fixed monthly payments, so you always know what you are paying.

We are the Champions (of Accountancy)

You wouldn’t expect an accountant to score a hat trick in the league final just as we wouldn’t expect you to have the specialist knowledge to sort out all the nuances of your accounts and taxes. Whether you’re signing a new deal, changing your sponsor or managing your personal appearances, you’re likely to be gaining revenue at different times from different sources. This can bring complexities so why not free up your valuable time and let us help you to make the most of your earnings

Our accountants provide a complete suite of a services that will ensure your accounts are in order.

  • Looking after all aspects of your financial affairs including general business advice and tax compliance right through to tax advice and wealth protection.
  • Working with many sports professionals means we understand your income streams and allowable expenses.
  • Wherever you are based or are competing, we can handle any of your tax requirements.

Year end accounts form the basis of your tax return and so getting them correct is very important not least of which is to make sure that you are not paying more tax than you need to.

We’ll ensure that everything is correctly accounted for. That might mean taking account of elements such as your transport to and from competitions for medical treatment or your kit (and laundry). This is all aimed at making sure you keep the maximum amount possible from your earnings.

We’ll help you to avoid the common tax pitfalls facing sports professionals

  • We’ll help you to take account of all expenses that can be claimed, from membership and subscription fees through to mileage costs when using your own vehicle.
  • Even if you don’t think you have any ‘fixed assets’ we’ll ensure that any deductions from your taxable income will be made.
  • Opting for ‘simplified expenses’ under the new cash basis, means you won’t be able to set off any losses against other income. However, we can ensure this doesn’t limit your expense claims.

Every club should produce a set of annual accounts

Club Accounts Should Show Opening Balance, Income, Expenditure And Closing Balance.

These accounts should be signed off by the club committee at its Annual General Meeting. A financial statement must be prepared and verified each year by a qualified accountant.

Every member of a club is likely to be a joint owner of any assets of the club, but also jointly liable for all or part of any debts. Clubs should therefore consider suitable insurance. It is also important to make provision for how any cash, kit or other assets will be dealt with if the club ceases to exist.

When required to do so Clubs should provide a copy of their Annual Report, Balance Sheet and Statement of Accounts.

Clubs applying for Charter Standard status will also need to provide a copy of their clubs accounts, therefore it is paramount that a club acts responsibly when appointing a qualified accountant to do this work.

We work with many clubs from grassroots up to the top of the game, our team have the knowledge and experience to get your accounts right the first time so you are not left in any financial trouble.

 

Tax Planning

Tax is an unavoidable fact of life – it affects every person, company and organisation. Everyone wants to save money on their tax bill. Everybody wishes someone would do the paperwork for them.
Time for the tax professionals at accountalytics to step in…

 

We:

  • Know tax law
  • Find creative ways to save you money
  • Do all the calculations
  • Do all the paperwork

Image Rights

This is an area which has attracted attention from both the press and tax authorities in various jurisdictions over the years. A number of ‘grey areas’ previously exploited have led to a tightening of the rules, particularly around worldwide revenue generated from the exploitation of image rights, as well as some clarity within HMRC’s guidance manual in the UK.

 

We will ensure up to date advice on the latest guidance from the tax authorities to ensure the exploitation of image rights are compliant wit the relevant legislation, to minimise your exposure to HMRC investigations and potential damage to your brand.

Financial Advice

We offer financial advice on investments, pensions, trusts and tax planning.

Investment planning:

Whatever the amount and whatever your circumstances, reliable wealth management advice and creating the right investment strategy are crucial elements in helping to secure your future financial goals. Whether you are looking to invest for income or growth, accumulate wealth to pass on to future generations, be able to support family during your lifetime or perhaps a combination of these, in order to make the most of your wealth, it is likely that you will need some sort of investment plan.
We fully understand that we are all different and our investment goals and risks are not the same. We spend time with our clients getting to know them and adapt with their future changes. We provide bespoke plans for each individual using our extensive experience to achieve our client’s goals.

Savings are an important part of everyone’s future plans, whether you are saving for the short, medium or long term it’s important to have a plan in place and to review that plan on a regular basis.
We can help with a range of financial products tailored to your investment needs that may include:

 

  • ISAs
  • Investment Bonds
  • Unit Trusts
  • OEIC
  • Investment Trusts
  • VCTs and much more.

Accountalytics Sports takes pride in our ongoing commitment to our clients. Once we arrange your portfolio we continue to review it on a regular basis to ensure it adapts to changes in your circumstances and attitude to investment risk, as well as with changes in the wider economy, stock markets and your individual funds so that your financial objective are going to be achieved.

A financial adviser can play a key role by providing advice on a full range of wealth planning strategies, regular reviews and adapting to change. All these plus more can make the difference in achieving your goals.

Pensions:

Planning for your retirement is arguably the most crucial financial decision you will ever make. Regardless of what stage in life you are at, it’s important you have a retirement plan in place. A simple rule is to work out how much money you think you are going to need in retirement. You can have a retirement age in mind, but the sooner you start planning for your retirement the sooner you can retire.

With life expectancy increasing year on year and with pension freedom to retire from the age of 55, it will soon no longer be unusual for people to spend as long in retirement as they did in employment.

 

Starting early and managing your pension smartly can ensure you have a comfortable retirement. The idea is to have enough money in your pension pot to last you the rest of your life in the later years. Pension planning now is essential to maintaining your standard of living in retirement, whilst perhaps also being able to provide for children and grandchildren. Remember you will have more time on your hands to do the things you enjoy so make sure you have the funds to do so.
We fully understand that we are all different and retirement goals will not be the same for all of our clients. We spend time with our clients getting to know them and adapt with their future changes. We provide bespoke pension plans for each individual using our extensive experience to achieve our client’s retirement aspirations.

Whether you have pension plans in place, a scheme at work or old pension plans you no longer contribute to, it’s vital that they are reviewed on a regular basis. We take pride in our ongoing commitment to our clients. Once we review and arrange your pension plan we continue to review the plan on a regular basis to ensure it adapts to changes in your circumstances and attitude to investment risk, as well as with changes in the wider economy, stock markets and your pension funds so that your retirement objective is going to be achieved

Taking advice from an expert financial adviser in this area can make all the difference. The types of pension scheme on which Accountalytics Sports can advise upon are:

  • Stakeholder Pension
  • Personal Pension
  • Self Invested Personal Pension (SIPP)
  • Small Self Administered Scheme (SSAS)
  • Executive Pension Plans
  • Previous Employer Pension Schemes
  • Trusts:

none

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SOUNDS AWESOME?

Please complete My Club Account form below and a member of our team will get back to you.

 

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