Accountant / Accounting Firm — Art Dealership
Posted Today by O17
Negotiable
Undetermined
Undetermined
United Kingdom
Summary: Our Client, a London-based art dealership, is seeking an experienced accountant or accounting firm for part-time financial and compliance support. The ideal candidate will possess a comprehensive understanding of general accounting services and specialized knowledge of the UK art market's regulatory and tax landscape. Responsibilities include bookkeeping, VAT compliance, tax planning, and AML support, specifically tailored to the art sector.
Key Responsibilities:
- Core accounting services including bookkeeping, management accounts, and year-end preparation.
- Correct application of the VAT Margin Scheme for secondary-market art sales.
- Annual filings and tax planning for corporation and income tax.
- AML compliance support and financial record-keeping for CDD and HMRC inspections.
- Tracking qualifying sales for Artist's Resale Rights (ARR) and advising on royalty obligations.
- MTD-compliant VAT submissions using compatible software.
- Advising on import VAT and zero-rating of exports.
Key Skills:
- ACA, ACCA, or CIMA qualified (or equivalent).
- Experience working with art dealerships, galleries, or auction houses.
- Practical knowledge of the VAT Margin Scheme for art and antiques.
- Familiarity with HMRC AMP registration requirements and AML obligations.
- Proficient with cloud accounting software (Xero, QuickBooks, or equivalent).
Salary (Rate): undetermined
City: undetermined
Country: United Kingdom
Working Arrangements: undetermined
IR35 Status: undetermined
Seniority Level: undetermined
Industry: Other
Our Client is a London-based art dealership seeking an experienced accountant or accounting firm to provide ongoing financial and compliance support on a part-time retainer basis. The right candidate will be comfortable with the full range of general accounting services and bring specialist knowledge of the regulatory and tax landscape specific to the UK art market.
What you'll handle
- Core accounting — bookkeeping, management accounts, year-end preparation, cash flow reporting
- VAT — Margin Scheme — correct application of the VAT Margin Scheme for secondary-market art sales, stock-book maintenance, and compliant invoicing
- Corporation / income tax — annual filings, tax planning, advising on art held as trading stock vs investment
- AML compliance support — awareness of Art Market Participant (AMP) obligations under the Money Laundering Regulations; assisting with financial record-keeping that supports CDD and HMRC inspections
- Artist's Resale Rights (ARR) — tracking qualifying sales, advising on royalty obligations to collection societies
- Making Tax Digital — MTD-compliant VAT submissions using compatible software
- Import / export VAT — advising on 5% import VAT on works of art and zero-rating of exports
What we're looking for
- ACA, ACCA, or CIMA qualified (or equivalent)
- Demonstrable experience working with art dealerships, galleries, or auction houses
- Practical knowledge of the VAT Margin Scheme for art and antiques
- Familiarity with HMRC AMP registration requirements and AML obligations in the art sector
- Proficient with cloud accounting software (Xero, QuickBooks, or equivalent)
- Sole practitioners and small firms equally welcome
Scope of Work
- Bookkeeping — monthly reconciliation and VAT Margin Scheme stock book maintenance
- VAT filing — quarterly MTD-compliant returns, with correct application of the Margin Scheme for secondary-market sales
- Corporation tax — annual CT600 filing, statutory accounts, and advice on trading stock treatment
- Year-end accounts — full statutory accounts including year-end inventory reconciliation
- AML record-keeping — transaction records structured to support HMRC AMP obligations and CDD requirements
- Low volume dealership — under 20 transactions per month
Engagement Contract / Service Agreement Fixed Fee