In an age where funding is increasingly hard to obtain, how can you maximise your income in other areas?
We’ll hear about members who have had success in raising money by other methods, and we’ll share advice and experiences with each other on what has – and hasn’t – worked for you. Making Music staff will also have some top tips for gaining those vital extra pennies.
This resource is part of our OTR Part 3 guidance: Keeping records, producing accounts and making a claim. It looks at how to keep accrual accounts for your concert production company for the purposes of claiming OTR.
Organisations claiming Orchestra Tax Relief (OTR) (i.e. the concert production companies) have to prepare their financial statements under the Accruals Basis of accounting which requires that income and expense must be recognized in the accounting periods to which they relate rather than on a cash basis.