A town built around the studios
Few towns in Hertfordshire are as closely tied to one industry as Borehamwood. Elstree Studios stands on Shenley Road in the middle of the town, and it is where Strictly Come Dancing is recorded. Hertsmere Borough Council bought the site in 1996, and BBC Studioworks runs studios there.
A short walk away on Clarendon Road is the BBC Elstree Centre, where EastEnders is made. Sky Studios Elstree is also in the town. Put together, that means a large number of people in WD6 earn some or all of their income behind or in front of a camera.
Accountants for Borehamwood film and TV crew
Crew income rarely fits neatly into one box. A camera assistant might be on PAYE for one production and invoicing as self employed on the next, all in the same tax year. HMRC has its own guidance for this in the Employment Status Manual, which sets out behind camera roles that are normally treated as self employed. Some roles only qualify when you are taken on for a specific production for a set period, as a separate engagement each time. If the conditions are not met, the general employment status rules decide.
That is why so many crew members need a self assessment return every year, even when part of their income has already been taxed. We bring together the payslips, P45s and invoices, claim the costs that are allowed, such as kit and some travel, and make sure tax already paid through PAYE is not paid twice. Irregular income also affects payments on account, which are due on 31/1 and 31/7, so we plan for them rather than leaving you with a surprise bill.
What we help people in Borehamwood with
- Self assessment returns for freelance and PAYE crew
- Employment status checks for production engagements
- Allowable expenses for kit, travel and training
- Payments on account planning for irregular income
- Loan out company accounts and corporation tax
- IR35 reviews for contracts with production companies
- Bookkeeping, VAT returns and payroll for local shops
- CIS returns and refunds for construction trades
When a loan out company makes sense
Some senior crew and performers work through their own limited company, often called a loan out company. It can suit people with steady, higher earnings, but it brings company accounts, corporation tax returns and director duties. Profits up to £50,000 are taxed at 19%, rising to 25% above £250,000 with marginal relief in between.
Where a production company is medium or large, it decides whether your engagement falls inside IR35, the rules that decide whether a contractor is taxed like an employee. If you are inside, tax and National Insurance are taken off before payment, and much of the benefit of a company falls away. We talk this through honestly before you set one up.
Shenley Road businesses and local employers
Shenley Road also runs through the town centre, and the independent businesses trading around it have very different needs from the studios. A small shop or café with a few staff needs bookkeeping that keeps pace, payroll that runs on time and someone watching the VAT threshold, which is £90,000 of taxable turnover over any rolling 12 months.
Elstree and Borehamwood station is on the Thameslink line and sits in London fare zone 6, even though the town is in Hertfordshire. The A1 runs just east of the town and the M25 is around two miles north, which makes the town a practical base for trades who travel for work. Builders working for contractors fall under the Construction Industry Scheme, where 20% is deducted from labour payments for registered subcontractors, and we can reclaim that through the year end return.
What matters most for clients in WD6
Borehamwood work tends to centre on a handful of services. Most people looking for accountants in Borehamwood need help with at least one of these, and studio workers often need two or three.
- Self assessment for crew with a mix of PAYE and freelance income
- Employment status questions for film and TV engagements
- Company accounts and corporation tax for loan out companies
- Bookkeeping, VAT and payroll for Shenley Road businesses
- CIS returns and refunds for builders and trades
How we work with Borehamwood clients
We are based in Watford and do not have an office in Borehamwood. Studio schedules are long and unpredictable, so most clients prefer to send records by email or upload and talk by video at a time that suits them. When a meeting in person is useful, we arrange one.
To begin, fill in the free quote form. An ACCA qualified accountant looks at what you need, and we agree a fixed fee before any work starts. Choosing accountants in Borehamwood who understand how studio work is paid saves a lot of explaining when the tax return is due.
Who we work with here
- Camera, sound, lighting and art department crew
- Performers and presenters with mixed income
- Senior crew running a loan out company
- Shop and café owners in the town centre
- Builders and trades based near the A1 and M25
Common questions
I work at Elstree on and off. Am I employed or self employed?
It depends on your role and how each job is set up. HMRC guidance treats some behind camera roles as normally self employed, but some only qualify when each engagement is for a specific production and a set period. We look at your contracts and explain where you stand.
Can I claim for my own kit?
Usually, yes, if the kit is used for your self employed work. How it is claimed depends on what it is and how long it lasts. Keep receipts and we will sort out the right treatment on your return.
Should I set up a loan out company?
It can help people with steady, higher earnings, but it brings extra filing and director duties. IR35 can also reduce the benefit. We compare both options using your real figures before you decide.
My income jumps around. How do payments on account work?
HMRC usually asks for two advance payments, on 31/1 and 31/7, each half of last year's bill. If this year looks lower, you can ask to reduce them, but interest is charged if you reduce them too far. We help you judge it.
Do you have an office in Borehamwood?
No. Our accountants are based in Watford. Borehamwood clients usually work with us online, and we arrange a meeting when it is needed.
Can you help a builder in Borehamwood get CIS money back?
Yes. For a sole trader, deductions taken by contractors are set against the tax bill on the self assessment return, and any overpayment is refunded. For a limited company, they can be offset against PAYE through the year.
What do your services cost?
We do not publish prices. After a free review of what you need, we agree a fixed fee in writing before any work starts.