A Complete Guide To Cloud Accounting For Multi-Territory Film Distribution Businesses 

The UK film financing and distribution sector operates across multiple regions and currencies. Rights are sold by territory, deals span continents, and income arrives from diverse sources such as streaming, theatrical, and licensing agreements. Managing these transactions accurately requires precision and speed. Cloud accounting for multi-territory film distribution businesses provides the structure needed to handle such complexity.

This guide explores how cloud-based accounting platforms help film distribution businesses and financing companies manage global operations efficiently. It covers key features such as multi-currency management, consolidation, revenue recognition under IFRS 15, and royalty tracking.

You’ll learn how these multi-company accounting systems simplify cross-border reporting, improve transparency, and reduce manual errors. For UK-based production and distribution businesses expanding internationally, the right cloud accounting system is vital for accurate reporting, investor confidence, and regulatory compliance across multiple territories.

Why Cloud Accounting For Multi-Territory Film Distribution Businesses Is Important

Modern film distribution requires flexibility, accuracy, and collaboration. Cloud platforms allow finance teams, producers, and distributors to work together within a single, shared ledger that updates in real time.

Authorised access controls protect confidential information, ensuring each user can only view what’s relevant to their role. Automated backups and detailed audit trails maintain data integrity and provide transparency for investors and auditors.

Through seamless API integrations, these systems connect with payment gateways, sales agents, and reporting tools to cut down on manual data entry and reduce risk. Centralising financial activity across multiple regions helps businesses manage currency conversions, royalty payments, and consolidated reports efficiently.

Ultimately, this approach improves visibility, reduces administrative workload, and supports timely, informed decision-making throughout the entire distribution process.

Core Features You Actually Need

1. Multi-Currency Ledgers

Record transactions in the original deal currency and revalue balances at each period end. Automatically track realised and unrealised foreign exchange gains or losses.

2. Multi-Entity and Consolidation

Combine accounts across UK holding companies, SPVs, and international branches. Remove intercompany balances and allocate management fees correctly during consolidation.

3. Dimensional Reporting

Tag every transaction by film title, distribution window, and territory. Generate profit and loss reports by title or market within minutes.

4. Deferred Income and IFRS 15 Compliance

Handle licensing income that is recognised over time. Build automated schedules for minimum guarantees and contractual step-downs.

5. Royalties and Participations

Import gross receipts from agents or platforms, apply recoupment waterfalls, and accurately calculate talent or producer participation.

6. Revenue Stream Mapping

Categorise income by channel—cinema, EST, TVOD, SVOD, AVOD, Pay TV, airline, or non-theatrical—to monitor performance by distribution type.

7. Withholding Tax Tracking

Record taxes withheld by foreign jurisdictions. Maintain certificates and prepare supporting schedules for double-tax relief claims.

8. Making Tax Digital (MTD) for VAT

Maintain digital VAT records and submit returns directly through approved MTD-compatible software.

9. Approvals and Audit Trail

Apply approval workflows to key transactions. Lock rates, contracts, and adjustments to preserve evidence for auditors, investors, and lenders.

10. APIs and Data Imports

Integrate with sales agents, banks, and digital platforms. Import statements automatically and post validated journals into the ledger with full control.

Selecting The Right Multi-Company Accounting System

1. Map the Structure

List all entities involved in distribution and financing, including SPVs, holding companies, and collection agents. Note the currencies, banking arrangements, and sales platforms linked to each.

2. Define Reporting Needs

Agree on the monthly reporting pack. Include profit and loss by title, territory, and distribution window. Add foreign exchange impact, recoupment position, and variance analysis.

3. Score the Features

Identify must-have functions such as multi-currency handling, group consolidation, participation, and delayed income management. Rank them by operational importance.

4. Test with Real Data

Use a previous quarter’s data to test the system. Import agent statements, simulate currency revaluations, and check that revenue timing aligns with contract terms.

5. Verify UK Compliance

Confirm that the platform supports Making Tax Digital for VAT, provides full audit trails, and includes proper user access controls.

6. Plan Integrations

Ensure compatibility with other business systems such as rights management, payroll, production accounting, and business intelligence tools.

7. Review Total Cost of Ownership

Factor in software licences, implementation, data migration, training, and ongoing support when assessing long-term cost and return on investment.

Implementing Without Disruption

1. Establish the Chart of Accounts

Keep the structure simple and logical. Use dimensions to track activity by title, territory, window, and channel for precise reporting and faster analysis.

2. Clean Opening Balances

Before going live, reconcile all key balances — bank accounts, gross receipts, advances, and deferred income — to start with accurate data.

3. Automate Foreign Exchange Processes

Load daily currency rates automatically to maintain consistency. Lock contractual rates where fixed within agreements to avoid manual discrepancies.

4. Standardise Incoming Statements

Create import templates tailored to each sales agent or digital platform. Standard formatting reduces processing time and eliminates manual data errors.

5. Build the Recoupment Waterfall

Model minimum guarantees, distribution fees, expense caps, and break points. Link each element to participations to maintain clear profit calculations.

6. Set a Clear Close Calendar

Define strict cut-off rules for receipts, FX adjustments, and approvals to ensure timely, accurate period-end reporting.

7. Create Real-Time Dashboards

Display key financial indicators such as cash by currency, aged receivables by agent, title margins, and recoupment progress for quick oversight.

8. Train the Team Effectively

Deliver short, role-based training sessions and provide one-page standard operating procedures for each workflow to promote accuracy and consistency.

Revenue recognition in practice

Under IFRS 15, licence revenue depends on performance obligations. Determine whether income is recognised over time or at a specific point. Many distribution deals recognise revenue progressively during the licence term, while minimum guarantees are treated as deferred income. Recognition follows the contract terms, and each judgement should be well documented for audit and lender review.

Tax and Treasury Considerations

UK film distribution businesses must submit VAT returns through Making Tax Digital (MTD)-compatible software. Overseas receipts often arrive net of withholding tax, which should be recorded at source when received. Maintain certificates to support double tax relief claims.

Use multi-currency cash flow forecasts to monitor inflows and outflows across regions. For significant USD or EUR revenues, consider currency hedging where company policy allows to protect profit margins from exchange rate fluctuations.

How Apex Accountants’ Cloud Accounting Services For Film Financing Companies Help

Specialist financial systems are vital for distributors managing revenues across regions and currencies. Apex Accountants provides tailored cloud accounting services for film financing companies.

Our cloud accounting services include:

  • Film-ready ledger design: Custom chart of accounts, dimensions, and cost structures aligned with each title, territory, and rights window.
  • Automated revenue mapping: Integration of multi-currency transactions, deferred income schedules, and royalty waterfalls that reflect contractual terms.
  • System implementation: Full setup, configuration, and integration of cloud accounting platforms with sales agents, production systems, and payment processors.
  • Data migration and testing: Secure transfer of historical records, statement imports, and trial balance validations before go-live.
  • MTD for VAT compliance: Setup of digital VAT submission processes and audit-ready documentation to meet UK requirements.
  • Internal controls and reporting: Development of approval workflows, user roles, and dashboards for real-time performance tracking.
  • Training and ongoing support: Short, role-based sessions to help finance teams operate the system confidently and efficiently.
  • First close assistance: Hands-on support through the initial month-end cycle to establish best practices and a clean reporting start.

By combining technical expertise with sector-specific experience, Apex Accountants helps film distribution businesses  achieve faster reporting, stronger controls, and complete financial visibility across every market they operate in.

The Result

A unified accounting system delivers one reliable source of truth. Profit by title becomes visible in hours, not weeks. Recoupment and participations stay accurate, VAT filings remain on time, and strategic decisions on new projects or acquisitions become faster and better informed.

Need a clear review of your current setup? Book a call with Apex Accountants. Our team will assess your existing systems, identify gaps, and recommend a practical, cost-effective upgrade path.

How MTD for Casting Agencies Impacts VAT and Tax Reporting

Casting agencies occupy a unique space among talent, production companies and clients. As Britain modernises tax reporting, they must adapt quickly to stay compliant and avoid penalties. Making Tax Digital (MTD) isn’t just another rule change; it marks a shift towards real‑time, digital record keeping across all taxes. Here’s what casting directors need to know about MTD for casting agencies and how it links to the wider reform coming in 2026.

What MTD for VAT requires now

MTD for VAT aims to cut errors and make tax reporting easier. Since April 2022 every VAT‑registered business must keep digital records and file VAT returns via HMRC‑approved software. This requirement originally only applied to businesses over the VAT threshold (£85k, now £90k), but from April 2025 it extends to all VAT‑registered businesses, even those earning under £90k. You must:

  • Use compatible software: Paper or handwritten records no longer meet the rules. HMRC‑approved software – such as Xero, QuickBooks, FreeAgent or bridging tools – records your transactions and submits VAT returns automatically.
  • Keep digital records: Store sales, purchases, VAT rates, dates and values electronically for at least six years.
  • File on time: VAT returns are still quarterly. The deadline is one month and seven days after the end of each VAT period.
  • Avoid penalties: Late filings now accrue penalty points; late payments attract a staged penalty – 2 % of the VAT owed if paid 16–30 days late and 4 % if outstanding for more than 31 days.

These rules apply whatever your turnover. Only businesses with no internet access, certain disabilities, religious objections or insolvencies may be exempt.

Looking ahead to 2026: MTD for Income Tax

The next phase of Making Tax Digital targets income tax. From April 2026 on, self-employed individuals and landlords with annual gross incomes over £50,000 must maintain digital records and send quarterly updates to HMRC. The threshold falls to £30 000 in April 2027. Many casting agency owners operate as sole traders or landlords in addition to their agency role. This means your personal tax affairs will also move to real‑time digital reporting.

Why MTD for casting agencies matters

Casting businesses have complex income streams. You might bill clients for casting fees, talent commissions, buy-through fees, and travel recharges. You might receive payments on behalf of talent and pass these on. Each category has a different VAT treatment. Digital tax reporting for casting agencies requires digital records that clearly distinguish between:

  • Principal versus agent transactions: When acting as an agent for talent fees, you charge VAT only on your commission; when acting as a principal (for example, buying services to sell to the client), VAT applies to the whole value. Software must map these flows correctly so the return shows the right output tax.
  • Recharges and disbursements: Genuine disbursements are outside the scope of VAT, whereas recharges are usually standard‑rated. Clear digital labels prevent misclassification.
  • Domestic and international services: Place‑of‑supply rules often mean no UK VAT on services supplied to overseas businesses. Retain evidence of the client’s location and VAT status.
  • Multiple VAT rates: Some cast‑related expenses (e.g., zero‑rated props or books) attract a different VAT rate. Use software codes to capture these accurately.

Quarterly VAT returns will only be accurate if you maintain digital records for each job—from the initial casting brief to the final payment— and reconcile them regularly. Good software also helps you monitor the VAT registration threshold; the current threshold is £90000 taxable turnover in any 12-month period.

Steps to Prepare for Digital Tax Reporting for Casting Agencies 

  1. Choose the right software: Select an HMRC-approved package that handles VAT codes for commissions, disbursements, and cross-border supplies. Cloud‑based systems such as Xero or QuickBooks integrate with expense apps and bank feeds, reducing manual entry.
  2. Set up an Agent Services Account (ASA): This account lets you authorise accountants to act digitally on your behalf. Connect your VAT number to your software through the ASA.
  3. Create digital links: Avoid copy‑and‑paste between systems. Spreadsheets are still allowed, but only if you use bridging software to create a digital link to HMRC.
  4. Review your processes: Map out where you act as agent versus principal on each casting job. Create separate codes in your ledger. Make sure to record talent payments, buy-through costs, and travel recharges using the appropriate VAT rate.
  5. Train your team:Everyone who raises invoices, books expenses or approves VAT returns should understand digital recordkeeping requirements and deadlines.
  6. Monitor thresholds and deadlines: Check turnover monthly so you register for VAT when you cross the £90 000 threshold. Set internal cut‑offs for expense submissions and invoice processing so you meet the one‑month‑plus‑seven‑day filing deadline.

Penalties and risks

Under the new penalty regime, late VAT returns accrue penalty points. Once you reach a points threshold, HMRC imposes a £200 fine. Points expire after a period of compliance, but repeated delays will keep you on the radar. Late payments trigger extra charges: nothing if paid or a Time‑to‑Pay plan is agreed within 15 days; 2% of the VAT owed for payments 16–30 days late; 4% for anything later. Interest is also charged on overdue amounts. Failing to use MTD‑compatible software can lead to compliance checks and fines.

Case Study — MTD for a Casting Agency

Client

A London casting agency handles talent fees, wardrobe, travel, and both commission and flat-fee services. Records were in spreadsheets and paper folders.

Challenges

  • Turnover near the £90k VAT threshold, risk of late registration.
  • Manual Word invoices and spreadsheets with errors and missing receipts.
  • Confused VAT coding — agent for talent, principal for wardrobe.

Our Solution

  • Registered for VAT and set up Xero with tailored VAT codes.
  • Linked bank feeds, receipt apps, and bridging for schedules.
  • Mapped flows for commission, buy-through, and disbursements.
  • Trained staff, set deadlines, and built a turnover dashboard.

Results

  • On-time digital VAT returns with no penalties.
  • Clearer job profitability and separation of commission vs costs.
  • Smooth MTD VAT compliance and readiness for MTD Income Tax 2026.

Why Choose Apex Accountants MTD Services for Casting Agencies? 

Apex Accountants specialises in the creative sector. We understand the nuances of casting work – from agency versus principal roles to cross-border productions. We help you choose the right software, set up digital records, and configure VAT codes that reflect your business model. Our support includes:

  • Reviewing your turnover to ensure timely VAT registration.
  • Implementing MTD‑compatible software with digital links across all systems.
  • Mapping your revenue streams so that VAT is treated correctly.
  • Training your team and reviewing returns before submission.
  • Advising on MTD for Income Tax as it rolls out from 2026.

Digital tax reporting is a permanent fixture. The casting agencies that adapt not only meet HMRC rules but also gain clear financial insight. Contact Apex Accountants today and prepare your agency to thrive in 2026 and beyond with expert-led MTD services for casting agencies.

New Changes to Making Tax Digital for Income Tax in 2026

Starting from April 2026, HMRC is rolling out its Making Tax Digital for Income Tax rules, a significant change affecting sole traders, landlords, and businesses across the UK. MTD aims to simplify tax reporting and reduce errors, but it will require some preparation. As experts in tax services, Apex Accountants is here to guide you through this transition and ensure compliance.

What is MTD for Income Tax?

Making Tax Digital for Income Tax is a major shift in how taxpayers report income and expenses to HMRC. Instead of submitting an annual Self-Assessment tax return, individuals and businesses will need to keep digital records and send regular updates to HMRC. This shift aims to improve accuracy, reduce errors, and make tax reporting more streamlined.

Who Will Be Affected by New Changes to Making Tax Digital (HMRC)?

Not everyone will be required to comply with MTD for Income Tax immediately. HMRC is phasing in these changes based on income thresholds:

  • April 2026: If your combined gross income from self-employment and property exceeds £50,000 per year, you must comply.
  • April 2027: The threshold drops to £30,000.
  • April 2028: The threshold will drop again to £20,000.

It’s important to note that the thresholds are based on gross income—before any expenses or tax reliefs are deducted.

What Will Change?

With MTD, the way you report your income and expenses will change. Instead of filing a single tax return once a year, you’ll need to send regular quarterly updates to HMRC. These updates provide a snapshot of your finances, which helps HMRC track your tax position more accurately throughout the year.

  • Quarterly Updates: You will send a digital summary of your income and expenses every quarter.
  • Final Declaration: After the year ends, you will still file an annual declaration to make final adjustments for allowances and reliefs.

Key Requirements:

  • You must use MTD-compatible software to record your income and expenses. Popular options include Xero, QuickBooks, and RentalBux.
  • You can still use spreadsheets, but they must be linked to HMRC with “bridging software.”

Penalties and Compliance

HMRC will introduce a new penalty system, replacing fixed fines with a penalty point system. Each missed quarterly update will result in a penalty point, and after accumulating a certain number of points, you’ll face a financial penalty.

  • Late Filing Penalties: If you miss a deadline, you’ll accumulate penalty points.
  • Late Payment Charges: These charges are proportionate, meaning if you pay late, the penalty depends on how overdue your payment is.

Exemptions to MTD

While MTD will affect many taxpayers, there are exemptions:

  • People with disabilities or old age may be granted exemptions if they cannot use digital tools.
  • Geographic limitations such as poor internet connectivity could also qualify individuals for exemption.
  • Trustees and some religious organisations will not need to comply.

How Apex Accountants Can Help You Navigate The Changes To Making Tax Digital For Income Tax

At Apex Accountants, we specialise in helping businesses and individuals navigate the complexities and changes to Making Tax Digital (HMRC). Here’s how we can support you:

  • Software Setup & Integration: We can help you choose and set up MTD-compatible software tailored to your needs.
  • Tax Planning & Advice: Our team offers tax planning strategies to ensure you’re well-prepared for quarterly reporting and that you maximise allowable tax relief.
  • Ongoing Support: We provide regular check-ins and expert advice to make sure you’re staying compliant with MTD rules, especially as income thresholds change.
  • Penalty Prevention: We’ll assist you in managing deadlines and avoiding penalties with timely quarterly updates and final declarations.

How to Prepare for Changes To MTD in 2026?

If you’re affected by the upcoming changes, here’s what you can do to get ready:

  • Check your income: Ensure that you are aware of your income level, especially if you’re close to the £50,000 threshold.
  • Choose software: Find MTD-compliant accounting software that works for your business or personal tax situation.
  • Consider voluntary registration: Even if you’re not yet required to comply, voluntary registration can help you get comfortable with MTD early.
  • Consult with a tax professional: Speak to Apex Accountants about the best software options, tax relief strategies, and compliance tips.

By partnering with Apex Accountants, you can ensure a smooth transition into the digital tax reporting system and take advantage of expert support every step of the way. Contact Apex Accountants today to prepare for the HMRC MTD changes in 2026!

1. What is the deadline for MTD for Income Tax?

The full roll-out begins in April 2026 for those with income above £50,000. The threshold gradually lowers over the coming years.

2. Will I be penalised if I miss a quarterly report?

Yes, you’ll accumulate penalty points for missed deadlines, which can result in financial penalties if not corrected.

3. What software is compatible with MTD?

HMRC-approved software includes Xero, QuickBooks, and RentalBux. Spreadsheets can be used but require bridging software.

4. What is Making Tax Digital for Self-Assessment?

Making Tax Digital (MTD) for Self-Assessment will require self-employed individuals and landlords to submit quarterly updates to HMRC instead of filing one annual tax return. This digital reporting aims to simplify the process and improve accuracy.

5. When Does MTD for Self-Assessment Start?

MTD for Self-Assessment begins in April 2026 for individuals with a combined gross income from self-employment and property above £50,000. The threshold will gradually decrease in the following years.

6. What is the New Digital Tax?

The new digital tax is part of HMRC’s initiative to move away from paper records and self-assessments. It introduces quarterly digital submissions and requires taxpayers to maintain digital records, using HMRC-approved software.

7. What is Making Tax Digital for Limited Companies?

Making Tax Digital for Limited Companies involves extending MTD to corporate tax filings. Limited companies will be required to use compatible software for submitting quarterly updates and annual tax returns. However, this may be phased in gradually, starting with larger businesses.

8. What is Making Tax Digital for Partnerships?

Making Tax Digital for Partnerships will apply similar rules as for self-employed individuals, requiring partnerships to maintain digital records and submit quarterly updates to HMRC. This change is expected to come after the initial roll-out for sole traders and landlords.

9. What is Making Tax Digital Qualifying Income?

Making Tax Digital Qualifying Income refers to income from self-employment or property that exceeds the income threshold set by HMRC for MTD. In 2026, this threshold starts at £50,000. The qualifying income is what determines whether a taxpayer must comply with MTD rules.

10. Who is Exempt from Making Tax Digital?

Certain individuals may be exempt from MTD if they are unable to use digital tools due to age, disability, or living in areas with poor internet access. Additionally, some trusts, charities, and religious organisations may be exempt.

11. Is Making Tax Digital Going to Happen?

Yes, Making Tax Digital (MTD) is already being rolled out in phases. The government is committed to bringing the tax system fully into the digital age, with MTD for Income Tax set to start in April 2026 for those with qualifying income above £50,000.

Cloud Accounting for Literary Agents and Authors in the UK

Cloud accounting is reshaping financial management in the UK publishing industry. Both literary agents and authors are turning to online platforms to handle money more efficiently. Instead of storing records on local computers, financial data is secured on remote servers. This gives agents and authors instant access to books, invoices, and reports from any device. Cloud systems use modern accounting software for literary agents and authors alike, offering real-time collaboration and accurate reporting. At Apex Accountants, we specialise in cloud accounting for literary agents, helping agencies and authors adopt secure, compliant, and efficient systems that support their financial growth.

What is Cloud Accounting?

Cloud accounting, sometimes called online accounting, uses internet-connected software to manage finances. Unlike traditional desktop tools, data is stored in the cloud and updated automatically. Accountants and agency staff can log in from anywhere to view ledgers, expenses, or royalty invoices. Automated bank feeds synchronise payments and transactions, reducing errors. For authors and agents, this replaces outdated manual methods with reliable, real-time bookkeeping.

Benefits of Cloud Accounting For Literary Agents & Authors

Cloud-based systems provide clear advantages for the publishing sector:

  • Accessibility and Flexibility – Access accounts anytime, anywhere. Both agents and authors can check live data while travelling or working remotely.
  • Automation of Routine Tasks – Invoices, bank reconciliations, and expenses are handled automatically, reducing paperwork.
  • Real-Time Financial Insights – Dashboards display cash flow, sales, and costs instantly. Agents and writers make quicker, better-informed decisions.
  • Cost-Efficiency – No servers or costly software licences are needed. Subscription pricing suits small agencies and emerging authors.
  • Automatic Updates and Backups – Systems update automatically and back up data securely, reducing the risk of loss.
  • Enhanced Security – Strong encryption and multi-factor login keep client and author data safe.
  • Integration with Other Tools – Cloud systems link to apps like banking and payment services for seamless management.
  • Scalability – Platforms scale up or down easily as agencies’ or authors’ incomes change.
  • UK Tax Compliance – Many systems automatically calculate VAT, create reports, and support HMRC requirements.

Overall, online accounting for authors and agents reduces admin costs while improving accuracy and control.

Compliance with MTD and VAT

In the UK, VAT-registered authors and agents must now comply with Making Tax Digital (MTD). Since April 2019, VAT returns must be filed digitally through approved software. Cloud accounting is fully compatible, ensuring digital records and accurate submissions to HMRC.

From April 2026, MTD for Income Tax will apply to sole traders and partnerships above the income threshold. Many authors fall into this category. With cloud systems, income and expenses are logged digitally, and quarterly updates are submitted online without hassle.

VAT rules in publishing are complex, but cloud systems simplify them. Authors must charge VAT on royalties, advances, and fees for UK publishers. Literary agents must charge VAT on commissions for UK deals. At the same time, printed books and most eBooks remain zero-rated, which still counts towards the £90,000 registration threshold. Cloud systems handle these variations automatically, keeping VAT-registered authors and agents compliant.

Tailored for Authors and Literary Agents

Publishing finance comes with unique challenges. Literary agents manage multiple contracts, royalty payments, and cross-border transactions. Authors face irregular income and the complexity of advances, royalties, and expenses. Without digital tools, this quickly becomes overwhelming.

Accounting software for literary agents can track author earnings, split commissions, and handle multi-currency payments. For authors, cloud accounting provides clarity on royalties, expenses, and profit margins. Shared access ensures transparency between agents, authors, and accountants. In practice, online accounting for authors makes collaboration simple, whether working locally or across the UK.

Choosing Cloud Accounting Software

Any solution chosen by agencies or authors should be:

  • MTD-compliant and HMRC-approved.
  • Secure, with encryption and reliable backups.
  • Accessible on multiple devices, including mobile.
  • Able to produce VAT returns and management reports.
  • Scalable and cost-effective for both small and growing agencies.

A successful system allows accountants to collaborate directly, ensuring smooth financial management without requiring IT expertise.

Case Study: Supporting a UK Literary Agency with Cloud Accounting

One of our clients, a mid-sized London-based literary agency, struggled with manual royalty reconciliation, VAT errors, and late submissions to HMRC. Their reliance on spreadsheets caused delays in paying authors and left the agency vulnerable to penalties.

Apex Accountants introduced a tailored cloud accounting system for literary agents, integrated with their royalty management tools. We provided training for staff, set up automated VAT submissions under MTD, and built customised reports to track commissions and author payments.

Within six months, the agency reported:

  • 30% faster royalty reconciliation through automated imports.
  • Zero VAT penalties thanks to compliant digital submissions.
  • Improved cash flow visibility with rolling forecasts and live dashboards.
  • Stronger author relationships, as payments were on time and transparent.

By combining sector knowledge with practical cloud accounting solutions, we helped the agency free resources for signing new authors and expanding its client list.

How Apex Accountants Can Help

At Apex Accountants, we specialise in supporting authors and literary agents. We understand the publishing sector’s unique financial pressures and provide guidance tailored to royalties, commissions, and VAT. Our team helps set up secure, efficient systems and ensures compliance with MTD and VAT.

We provide:

  • Set-up and training for cloud platforms.
  • VAT and MTD reporting support.
  • Royalty and commission tracking tailored for publishing.
  • Ongoing advisory services for financial stability.

By partnering with Apex Accountants, agencies and authors focus on creative work while we manage the numbers.

Conclusion

Cloud financial management for literary agents and authors in the UK is more than just a trend – it is now essential. From managing royalties and advances to meeting VAT and MTD obligations, cloud-based systems simplify complex financial tasks. For both small agencies and established authors, the benefits include efficiency, accuracy, and peace of mind.

At Apex Accountants, we provide tailored solutions for the publishing sector, helping agents and authors modernise their finances with confidence. Contact Apex Accountants today to implement cloud accounting designed for your literary business.

Cloud Accounting for Farming Startups Driving Growth and Sustainability

Farming startups in the UK are moving beyond barns and ledgers towards digital systems powered by cloud tools and blockchain. Cloud accounting for farming startups is becoming essential for managing money, proving sustainability, and securing funding.

At Apex Accountants, we support farming and agritech ventures with tailored digital solutions. With years of experience, we help startups cut costs, stay compliant, and build investor trust.

In this article, we explain how cloud accounting works for farming startups, the role of blockchain in traceability, and how digital reporting supports grant applications.

Why Farming Startups are Turning to Cloud Accounting

Agritech and farming startups face seasonal income, volatile costs, and strict reporting needs. Paper ledgers and spreadsheets cannot keep pace. Cloud accounting platforms like Xero, QuickBooks, and Sage offer instant access to accounts. Transactions can be logged in the field, invoices issued automatically, and VAT filed digitally in line with Making Tax Digital (MTD).

Cloud tools also connect with farm management systems. Crop yields, feed costs, and machinery data can feed into accounting dashboards. This creates more accurate reporting and faster decision-making. Digital accounting for agricultural startups enables these businesses to respond to financial changes as they happen, not months later.

Use case: A livestock startup cut reporting time in half by linking herd management data with its cloud accounts. It now tracks feed costs and veterinary bills automatically, giving investors clearer financial updates.

The Role of Blockchain in Sustainability and Traceability

Blockchain is emerging as a powerful tool for farming finance. It records transactions securely and transparently. For startups, this goes beyond accounting—it proves traceability. Supermarkets and regulators increasingly demand evidence of sustainable sourcing. Blockchain can track the journey of produce from soil to shelf, linking financial entries with environmental data.

This transparency helps startups demonstrate green credentials to retailers, consumers, and funding bodies. Combined with cloud accounting, blockchain supports trust in financial and sustainability reporting. It also strengthens agritech financial management by ensuring accurate, tamper-proof data across the value chain.

Grants and Compliance Support

Many farming startups rely on funding schemes such as Defra grants or Innovate UK programmes. These require accurate, digital financial records. Cloud accounting makes it easier to provide compliant reports during applications or audits. Having secure, traceable accounts improves the chance of winning and maintaining grant funding.

Digital accounting for agricultural startups helps founders stay ready for audits and investor reviews at any time. It’s also essential when dealing with multi-year sustainability grants or tax relief schemes.

Key Benefits for Farming Startups

Cloud accounting provides measurable advantages:

  • Real-time cash flow: Track sales, subsidies, and grants in one place.
  • MTD compliance: File VAT and corporation tax digitally.
  • Cost tracking: Allocate labour, fertiliser, and energy costs with accuracy.
  • Sustainability proof: Combine blockchain and accounts to verify green practices.
  • Investor trust: Share up-to-date digital records with banks or venture capital firms.

How Apex Accountants Supports Cloud Accounting For Farming Startups

At Apex Accountants, we guide farming startups through every stage of cloud accounting. We set up tailored systems, integrate them with farm data tools, and provide training for teams. We also advise on blockchain applications, helping startups demonstrate traceability and build trust with supermarkets, regulators, and investors.

Our team supports grant compliance too, ensuring financial records meet Defra and Innovate UK requirements. This approach to agritech financial management gives farming businesses the tools they need to scale, remain audit-ready, and stay competitive in a fast-moving sector.

From barns to blockchain, cloud accounting is reshaping how farming startups manage money, prove sustainability, and access funding. With Apex Accountants, agricultural innovators can save time, build trust, and grow with confidence.

Contact us today to discuss how we can support your farming startup.

Practical Guide to Making Tax Digital for Agricultural Cooperatives

Agriculture in the UK relies heavily on cooperatives. These organisations allow farmers to pool resources, share storage, access machinery, and sell products collectively. By working together, members reduce costs and strengthen profitability. However, this collective model brings unique tax and compliance challenges, especially when dealing with VAT. At Apex Accountants, we have extensive experience working with farming groups and agricultural cooperatives. Our role is to guide these organisations through complex tax rules, ensuring compliance with the HMRC while protecting financial stability. We understand the practical pressures co-ops face and provide solutions tailored to their structure. This article explains what Making Tax Digital for agricultural cooperatives means in practice. It highlights the compliance challenges they encounter, sector-specific risks, and how Apex Accountants delivers targeted support to keep farming groups compliant and financially secure.

What MTD means for cooperatives

MTD requires VAT records to be stored digitally and submitted using compliant software. Agricultural cooperatives are often affected because their income streams—ranging from member fees to product sales—must be categorised correctly for VAT. Many co-ops now rely on MTD software for farming groups to manage these obligations effectively. Even when income falls below the threshold, MTD obligations remain unless the cooperative deregisters from VAT.

Sector-specific compliance challenges

  1. Grain storage co-ops – Silo rental fees charged to members must be recorded separately in digital systems. Incorrect treatment risks underpaid VAT.
  2. Dairy co-ops – Milk sales are taxable, while member training courses are exempt. Errors in classification can trigger HMRC penalties.
  3. Machinery rings – Shared tractor or baler hire involves complex input VAT claims. Poor tracking may lead to disallowed recovery.

Key risks for cooperatives

  • Partial exemption errors – Misapplied calculations could mean losing VAT recovery on significant shared machinery costs.
  • Outdated software – Traditional farm bookkeeping tools often lack MTD software for farming groups, leading to compliance gaps and extra admin work.
  • Complex member transactions – Misunderstanding whether member services are taxable or exempt invites HMRC scrutiny.

How Apex Accountants Supports Making Tax Digital for Agricultural Cooperatives

  • System configuration – Our trusted tax advisors for agricultural cooperatives configure digital systems that manage pooled input costs across members and allocate VAT correctly.
  • Transaction mapping – Our team separates taxable sales (milk, crops) from exempt services (training, advisory sessions).
  • Partial exemption expertise – We apply accurate calculations, safeguarding VAT recovery on mixed activities.
  • AFRS support – We train administrators to manage digital workflows for Agricultural Flat Rate Scheme (AFRS) compensation payments.
  • Tailored training – Co-op staff learn how to record silo rentals, machinery use, and pooled marketing costs directly in MTD-compliant software.

Why co-ops choose Apex Accountants

Compliance failures can reduce margins and lead to penalties. At Apex Accountants, our trusted tax advisors for agricultural cooperatives deliver tailored solutions that safeguard financial stability and maintain full HMRC compliance. With our guidance, cooperatives can focus on supporting their members while staying fully MTD-compliant.

Contact Apex Accountants today to discuss MTD compliance support tailored to your cooperative’s needs.

The Role of Cloud Accounting in Precision Farming and Data Analytics

Agriculture in the UK is undergoing rapid transformation. Rising costs, volatile markets, and growing environmental obligations mean farmers can no longer rely on traditional record-keeping methods alone. Precision farming technologies such as GPS mapping, IoT sensors, and automated machinery now provide valuable operational insights, but without strong financial analysis, these numbers remain underutilised. At Apex Accountants, we specialise in helping farming businesses connect their operational data with cloud-based financial systems. By using platforms like Xero, QuickBooks, and Figured, we enable farms to combine agronomic data with accounting information, creating a complete picture of performance, compliance, and profitability. Our expertise in cloud accounting in precision farming ensures that data-driven agriculture is supported by accurate financial insights.

This article explains how cloud accounting supports precision farming and data analytics. It highlights how farmers can link field data with financial results, meet HMRC and DEFRA reporting obligations, plan investments with clear ROI timelines, and make informed decisions that balance sustainability with profitability.

Linking Farm Data with Finances

Precision agriculture produces detailed information on soil health, fertiliser use, and machinery efficiency. Platforms such as Xero, QuickBooks, and Figured (a farm-focused solution) allow this data to connect directly with financial records. For example, one of our clients integrated The use of cloud accounting software for fertiliser usage reports led to a 12% reduction in input costs, as the system identified unprofitable fields and inefficient practices. This shows how digital accounting for UK farmers can turn operational data into measurable savings.

Real-Time Access and Decision-Making

Farm businesses often face volatile prices and weather-driven risks. Relying on quarterly or annual accounts limits agility. Cloud accounting delivers real-time dashboards, accessible on mobile or tablet devices. During harvest, farmers can track cash flow live, compare input costs with expected yields, and negotiate better supplier terms. This speed of access enables more confident financial decisions and strengthens the role of cloud accounting for agriculture in day-to-day operations

Compliance, Subsidies, and DEFRA Reporting

The UK’s Making Tax Digital (MTD) rules already require VAT submissions through digital platforms. Cloud accounting automates this compliance. In addition, farmers receiving subsidies such as the Sustainable Farming Incentive (SFI) or Countryside Stewardship (CS) often face complex reporting demands from DEFRA. With cloud systems, these payments can be tracked, categorised, and linked to project-specific costs, ensuring the records are audit-ready. This compliance-focused approach underlines the value of digital accounting for UK farmers who must balance regulation with profitability.

ROI on Precision Farming Investments

Precision farming tools—such as variable-rate sprayers or drone mapping systems—require significant upfront spending. Cloud accounting platforms support scenario modelling and forecasting, showing how long these investments take to pay back. On average, farms investing in precision fertiliser equipment report ROI within three to five years, with savings in inputs and higher yields covering capital costs.

Environmental and Cost Benefits

Sustainability is a key focus for both regulators and consumers. Farmers who cut fertiliser or water usage see immediate environmental gains as well as financial savings. Cloud accounting records these reductions, linking operational efficiency with improved margins. This not only helps with cost management but also strengthens eligibility for green-focused grants and future subsidy schemes.

Case Study: Apex Accountants Driving Farm Efficiency

A dairy farm in Yorkshire approached Apex Accountants to improve visibility over costs and subsidy income. The farm had recently invested in GPS-enabled feeding systems and wanted to understand the financial return. We recommended integrating their operational data with Figured and linking it to Xero for financial reporting.

Once integrated, the system tracked feed usage against milk yield and compared it with input costs. Within the first year, the farm reduced feed wastage by 10%, saving over £25,000. The data also highlighted underperforming herds, helping management adjust rations and improve profitability.

In addition, we set up reporting for Sustainable Farming Incentive (SFI) payments, ensuring DEFRA compliance and providing a clear audit trail. With cloud accounting in place, the farm now benefits from real-time dashboards, scenario models for new equipment, and more accurate forecasting.

The investment paid back within three years, while giving the owners confidence in both day-to-day decisions and long-term planning.

Why Choose Apex Accountants for Cloud Accounting in Precision Farming

Apex Accountants helps farming businesses turn precision agriculture data into actionable financial insights. We connect platforms such as Xero, QuickBooks, and Figured with your farm’s operational systems, ensuring financial and field data work seamlessly together. Our team tailors reports to highlight sector-specific metrics, from input costs to subsidy income, while providing clear analysis to guide better decisions.

By combining advanced technology with deep agricultural expertise, we support farmers in cutting costs, staying compliant with HMRC and DEFRA requirements, and building long-term profitability. Our tailored approach makes us a trusted partner in cloud accounting for agriculture, helping farms grow with confidence.

Contact us today to discuss how cloud accounting can transform your farm’s financial management.

Why 2026 Is the Year to Embrace Cloud Accounting for Commercial Production Companies in UK

Commercial production companies manage multiple projects at once, from television commercials to digital campaigns. Budgets, cast and crew costs, equipment rental and tax compliance must all be tracked accurately. Traditional, desktop‑based accounting tools cannot keep up. They lock financial data in one location and create delays when managers need real‑time information. The UK’s move to Making Tax Digital (MTD) will make digital record‑keeping compulsory for many businesses from April 2026, with landlords and sole traders earning above £50,000 needing to maintain digital records and submit quarterly updates. In 2027, the threshold will drop to £30,000. By 2025 more than 90% of accounting firms around the world are expected to use cloud platforms for bookkeeping and reporting. 2026 will therefore be the tipping point when cloud accounting for commercial production companies will become essential rather than optional.

As Apex Accountants, we specialise in helping production companies adopt technology that improves efficiency and compliance. The following guide explains why cloud accounting is the future for production companies and shows how switching to the cloud has already transformed one of our clients.

Why Cloud Accounting Matters in 2026

Digital tax compliance is approaching

The UK government’s Making Tax Digital (MTD) programme will require digital record‑keeping and quarterly submissions for income‑tax reporting from April 2026. To comply, businesses must use HMRC‑recognised software; cloud accounting packages are designed for this purpose and offer increased accessibility, security and automation. For production companies, using cloud software early means there is time to train the team and integrate systems before the deadline.

Industry adoption is accelerating

Market research suggests that by 2025 most of the accounting firms worldwide will use cloud platforms. This wave of adoption reflects both client expectations and competitive pressure. Clients increasingly demand real‑time advisory services and expect that their accountant will provide insights, not just historical data. Production companies that continue to rely on desktop software run the risk of falling behind as partners, clients, and suppliers begin to work in the cloud.

Real‑time data drives better decisions

Cloud tools for production companies in the UK deliver real-time access to financial data, allowing managers to monitor budgets, cash flow, and project costs on any device. Immediate insights are vital on a film set, where last-minute changes, overtime, or additional equipment can blow a budget. With cloud accounting software, every transaction is recorded and updated instantly, giving producers an up‑to‑date picture of each project.

Collaboration is seamless

Production work is inherently collaborative. Directors, producers, finance teams and location managers all need access to the same data. Cloud platforms allow multiple users to view and edit financial records at the same time, whether they are in the office, on-site, or travelling. Instead of waiting for paper invoices or spreadsheets, documents can be scanned, categorised and approved within minutes. Finance leaders report that cloud technology improves collaboration across the finance function.

Automation reduces manual tasks

Cloud accounting removes repetitive data entry. Automated workflows handle invoice creations, expense claims, and bank reconciliations. For example, receipts can be photographed on a mobile phone, and the data extracted automatically. AI tools sort expenses, track spending and even predict cash flow. As a result, accountants and production managers can focus on analysis and decision‑making rather than data entry.

Cost efficiency and scalability

Traditional accounting systems require upfront licensing, server maintenance and IT support. Cloud applications deliver 4× the return on investment compared with on‑premises solutions. Subscription pricing means production companies pay only for what they use, with the ability to scale up when a major project starts and scale down afterwards. Automatic software updates ensure that the system is always current, avoiding the fees and downtime associated with manual upgrades. 

Compliance and security

Cloud accounting software is built with compliance in mind. Leading systems incorporate robust security measures, encryption and backup facilities. For UK businesses registered for VAT, cloud software can handle digital record‑keeping and direct submission of VAT returns to HMRC, helping firms meet Making Tax Digital requirements. Digital records reduce errors and ensure that tax submissions are accurate; automated compliance functions within cloud platforms also manage payroll and tax calculations.

Specific Advantages Of Cloud Tools For Production Companies In UK

Better project budgeting and cost tracking

Each production has unique budgets, labour costs and timelines. Cloud platforms provide real‑time visibility across multiple projects. Managers can track actual spending against the budget, monitor costs per scene, and identify overspends immediately. Because data is accessible from anywhere, producers can approve purchases quickly, preventing delays in filming.

Streamlined payroll and contractor management

Production crews often include contractors, freelancers and union workers. Cloud accounting integrates with payroll systems to automate calculations, deductions and national insurance contributions. Timesheets can be submitted digitally, reducing paperwork and ensuring timely payments. Automated payroll also helps companies stay compliant with UK employment law and HMRC reporting requirements.

Integration with production management tools

Modern cloud accounting platforms for commercial production companies connect with scheduling, asset‑management and invoicing tools commonly used in the film industry. For example, expenses captured in the on‑set software feed directly into the accounting ledger, eliminating the need to re‑enter data. Multi‑currency support is useful for international shoots, allowing immediate conversion and consolidation of costs.

Improved cash flow and financing

Production companies often rely on stage payments from clients or grants, such as UK film tax relief. With real‑time accounting data, they can forecast cash flow accurately and prepare timely tax credit claims. Instant access to bank feeds also allows producers to see when invoices are paid, enabling better management of creditors and debtors. Investors and lenders increasingly expect real‑time financial reporting; cloud accounting meets this expectation.

Remote and hybrid working

Production schedules may involve travel, remote working or cross-border teams. Cloud accounting software supports this lifestyle. Team members can work on laptops, tablets or phones, switching between devices without losing data. Expenses can be submitted while travelling, and approvals happen quickly, reducing bottlenecks.

Apex Accountants Case Study – Transforming a Production Company

Client: A medium-sized commercial production company in London specialising in TV ads and online campaigns. The company managed around 15 projects a year with budgets ranging from £50,000 to £500,000. They used desktop software for accounting and spreadsheets for project budgets. Paper invoices were passed between departments, causing delays. They were also concerned about the upcoming Making Tax Digital obligations.

Challenges

  • Limited visibility: The finance manager could not see up‑to‑date project costs until month‑end, making it difficult to control overspend.
  • Poor collaboration: Producers and line managers had to email spreadsheets back and forth. Approvals were slow, and invoices sometimes went missing.
  • Manual data entry: Accountants spent many hours inputting receipts and reconciling bank statements.
  • Compliance risk: The company lacked digital records that would meet HMRC’s MTD requirements.

Our solution

Apex Accountants proposed a cloud‑based accounting system tailored for production companies. We migrated their financial data, integrated the platform with their project‑management software and set up bank feeds. We designed project codes within the system to track costs by production. Staff received training on capturing expenses using mobile Approval workflows and devices were created for processing invoices and purchase orders. We also configured the software to produce MTD‑compliant digital records and quarterly tax submissions.

Results of 

  • Real‑time project dashboards: Producers could monitor budgets, commitments and actual spend from any location. Overspend alerts were triggered automatically, enabling swift corrective action.
  • Faster approvals and payments: Invoices were scanned and routed electronically. Approval times dropped from several days to a few hours. Contractors were paid faster, improving relationships with crew members.
  • Reduction in manual work: Automated bank reconciliation and AI‑powered receipt capture eliminated approximately 60% of the finance team’s manual data entry. Staff redeployed their time to forecasting and strategic analysis.
  • Improved compliance: Digital record‑keeping ensured readiness for MTD. VAT returns were submitted directly from the software, reducing the risk of penalties. The system also handled payroll and national insurance calculations automatically, ensuring HMRC compliance.
  • Better cash flow management: With real-time information on unpaid invoices and bank balances, the company optimised its cash flow by avoiding short-term borrowing. Regular reports to investors improved transparency and confidence.

The client now views cloud accounting not merely as a software upgrade but as a strategic asset. They can make data-driven decisions during production, collaborate seamlessly and meet their compliance obligations with ease.

Steps for Adopting Cloud Accounting For Commercial Production Companies

  1. Assess your needs. Map your current accounting processes, project budgeting and payroll requirements. Identify pain points such as slow approvals or lack of real‑time information.
  2. Choose an MTD‑compliant platform. Select HMRC‑recognised cloud software that offers real‑time dashboards, multi‑user access and integration with production tools. Consider features such as automated bank feeds, project tracking, payroll modules and mobile expense capture.
  3. Plan the migration. Work with accountants experienced in the production sector to migrate your data. Please tidy up the chart of accounts and set up project codes. Ensure that your budgets and outstanding invoices are imported accurately.
  4. Integrate and train. Connect the cloud accounting platform to your payroll systems, production management software, and bank accounts. Training producers, finance staff, and project managers on how to use the system. Provide guidance on capturing receipts and using approval workflows.
  5. Test compliance workflows. Run trial submissions for VAT and income tax to ensure the system produces accurate digital records and MTD‑compliant reports. Adjust settings as needed.
  6. Monitor and adapt. After going live, monitor usage and gather feedback from the team. Adjust workflows, dashboards and permissions. Use the system’s analytical tools to identify trends and opportunities.

Conclusion

By 2026, cloud accounting platforms for commercial production companies will be the norm rather than the exception. The UK’s Making Tax Digital deadlines, widespread industry adoption, and client demand for real-time insights all point to the same conclusion: commercial production companies need to embrace the cloud. Cloud accounting offers real-time financial visibility, seamless collaboration, automation, and cost efficiencies. It is scalable and secure, and it is ready for the digital tax era. As our case study shows, adopting cloud accounting can transform production operations, freeing managers from manual tasks and providing them the information they need to keep projects on budget and compliant.

At Apex Accountants, we are here to guide your production company through this transition. By acting now, you can be ready for 2026 and enjoy the competitive advantages that come from better data, better collaboration and better decisions. Contact us today to discuss how we can support your move to cloud accounting.

Cloud Accounting for Post-Production Facilities in the UK

The UK post-production sector is a cornerstone of the film, TV, advertising, and streaming industries. From editing and sound to colour grading and VFX, facilities deliver world-class work that supports productions worth millions of pounds every year. Yet behind the creative achievements lie significant financial challenges. Complex project budgets, strict HMRC rules, and slow client payment cycles often put pressure on cash flow and compliance. At Apex Accountants, we specialise in providing post-production companies with tailored financial solutions. Our team combines profound industry knowledge with advanced cloud accounting for post-production facilities to simplify financial management, strengthen reporting, and protect profitability. We understand the unique demands of facilities working across multiple projects, managing freelancers, and applying for industry-specific incentives.

This article explains how cloud accounting is transforming post-production businesses in the UK. We look at real-time financial tracking, project-level tax relief claims, international co-production billing, and forecasting tools that reduce cash flow strain. By the end, you’ll see how the right systems give facilities financial clarity to match their creative excellence.

Real-Time Financial Tracking

Post-production budgets can spiral quickly. Cloud accounting gives managers real-time visibility of income and spending. This allows teams to monitor client receipts, freelancer invoices, and kit hire costs without delay. Accurate, live reporting reduces financial blind spots and supports faster decision-making.

Managing Freelancers and Contractors

The sector depends heavily on freelancers: editors, animators, and sound mixers. Cloud-based payroll tools simplify contractor payments. Facilities can issue digital payslips, track off-payroll (IR35) compliance, and automate PAYE where required. This ensures smooth operations and stronger HMRC compliance.

Tax Reliefs and Project-Level Accounting

Film and TV productions often qualify for UK creative industry tax reliefs. To claim effectively, companies need clear project-level accounting. Cloud platforms enable project-specific tagging of costs and revenues, resulting in faster and more accurate relief claims. 

International Co-Productions and Multi-Currency Billing

VFX-heavy projects often involve international co-productions. Cloud accounting simplifies cross-border transactions by handling multi-currency invoicing and exchange rate adjustments. Facilities can ensure the correct application of VAT and withholding tax rules while issuing compliant invoices to overseas partners. Well-structured post-production accounting solutions also make it easier to manage these complex billing requirements while maintaining accurate records for compliance.

Cash Flow Forecasting and Financial Management for Post-Production Companies

Broadcasters and streamers often take months to settle invoices. These long payment cycles put pressure on cash flow. Cloud accounting tools forecast inflows and outflows, highlighting funding gaps early. This helps facilities plan borrowing, negotiate supplier terms, and maintain financial stability during extended wait times. Stronger forecasting supports smarter financial management for post-production companies, giving them resilience during payment delays.

VAT and MTD Compliance

VAT compliance remains critical. Cloud software integrates VAT rules into invoicing and reporting. Facilities can reclaim input VAT on specialist software and prepare accurate digital returns under Making Tax Digital (MTD). This reduces errors and avoids HMRC penalties.

How Apex Accountants Supports Cloud Accounting for Post-Production Facilities

At Apex Accountants, we deliver post-production accounting solutions designed for the unique needs of editing studios, sound facilities, and VFX companies. Our team sets up structured workflows for project-level reporting, ensures VAT and MTD compliance, and manages multi-currency invoicing with precision.

By combining industry expertise with advanced technology, we give post-production companies the financial clarity needed to focus on creativity while staying fully compliant and profitable.

Contact us today to discuss how Apex Accountants can transform your post-production finance with cloud accounting.

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