A Twitter cry for help from one of the country’s best-known mummy bloggers saw Randall & Payne swing into action to assist with her increasingly complex accountancy and tax needs.
Already a well-known blogger as The Unmumsy Mum, Sarah Turner’s hilarious tales of parenting became an overnight sensation when she released her first Times best-selling book. Due to her sudden success, she needed to quickly get to grips with operating as a business.
After a beady-eyed staff member spotted her plea on Twitter, our tax team went down to visit her in Exeter. Thanks to our experience in working with authors and the issues they face, including the requirements of overseas books deals and HMRC approvals, we were able to create an all-inclusive proposal tailored to fit her unique circumstances.
Initially, much of our work was around helping Sarah to plan and budget, and to understand various tax liabilities and associated cash flows. It was clear that she also needed help with record keeping, filing and reporting obligations, and registration thresholds. Given the success of her first book, we guided her through the process of VAT registration and self-assessment – an otherwise alien process for a new author!
We set Sarah up as a sole trader as it wasn’t clear how, or even if, her venture would take off. However, following on from the success of her first book and with a second in the pipeline, we incorporated her business into a limited company, enabling more stable tax rates and allowing her to plan better for the future with a tax-efficient remuneration strategy.
Those who have read Sarah’s books, blog posts or social media feeds know that she shares the whole story, and that made our job much easier – we were able to understand the full picture and provide a solution that we know works for Sarah.
As Sarah’s popularity continues to grow and her untraditional career path becomes even more challenging, we continue to help her overcome any hurdles she may face. When thresholds are met, we discuss the implications, and any anticipated tax liabilities. We were thrilled to be invited to the launch of her second book, The Unmumsy Mum Diary, in London, and look forward to helping her on the rest of her journey.