Tax relief for actor &
writer Michael Obiora
Michael Obiora calls on NWN Blue Squared's media accountancy expertise to support his acting and writing success.
He is one of a rare breed in the acting profession: his face has rarely been off the UK's television screens and, since first appearing in the series Grange Hill aged nine, Michael Obiora has hardly ever been out of work.
"I'm quite unconventional as an actor," Michael claims. "I didn't go to drama school then start working. I was able to make the tricky transition from child actor to adult actor and I’m fortunate that there's never been a year when I've been out of work through long running roles and I also with my writing."
As well as mainstream TV series, Michael has starred in two West End plays, including Elmina's Kitchen, written by his friend and former Casualty star, Kwame Kwei-Armah. "I don't like to be sitting around, I want to be in the throes of it," says Michael.
Alongside his acting career, Michael is now completing his second novel following the publication of his first book, Black Shoes, in 2009. "It's great. I continue to be passionate about what I do."
With serious contracts from such an early age, Michael has grown up with an independent, yet mature, approach to finance. "As a nine year-old, being able to buy trainers without asking my parents for money made me feel on top of the world! You don't learn about being self-employed and the tax system at school, so you have to look after yourself financially.
"Today's generation are perhaps the most materialistic ever, but they don't appreciate what it takes to earn money. Instead of messing me up, it made me learn the value of money."
It wasn't until Michael's career was well established that he formed a relationship with NWN Blue Squared. "Being a child actor I was around a lot of adults who were talking about tax bills and being very upset about them. When I got older I found I was spending too much time worrying about tax and being my own secretary. It was becoming too much of a burden. I needed accountants who were specialists and dealt with the media profession."
Michael had a meeting with NWN which "started as a chat and lasted longer than any meeting you would normally expect with a firm of accountants. Within six months I had felt the benefits. The paperwork was less and NWN sent me reminders so I wasn't worrying about missing dates."
Nearly two years after that initial conversation, the relationship has strengthened further. "It's like cracking the code," Michael explains. "The sign of things going well is that the job keeps getting done - and done efficiently. The reminder system is particularly good. Being self-employed and travelling around the world, it's just perfect. I'm happy to recommend NWN without hesitation."
And the tax bills? "It's not something I even think about!"
Find out how NWN Blue Squared can help share your passion and take the stress out of accountancy by contacting us now.
CGT exemption on Seed Enterprise Investment Scheme; 'cash basis' for small business profit computations.
