Archive | March 3, 2017

New Regulatory Body Set To Transform Britains Wine Investment Industry

NFIB and WIA to Provide Better Protection for Wine Investors

Millions of Britons enjoy drinking it and many now see it as a long-term investment. Unfortunately, fine wine has also become a focus for fraudsters who trick investors into buying wines or vineyards that bear little resemblance to what they see in the prospectus, or may not even exist. The increasing number of such rorts in Britain has led to calls for action to be taken to protect investors and to increase consumer confidence in fine wines. In the upshot, the UKs National Fraud Intelligence Bureau (NFIB) is joining forces with the newly-formed Wine Investment Association (WIA) to tackle the problem.

On 14 February 2013, the NFIB and the WIA jointly announced the launch of the new self-regulatory body which will aim to transform the growing wine investment industry by providing better protection for investors in the UK. The WIA has been formed by leading figures from the fine wine investment industry and seeks to support the sector’s growth through voluntary regulation, establishing best practices and setting up processes to identify fraudulent activity.

Director of the NFIB, Det. Supt. Dave Clark, said: “Fraudsters will always follow the money, wine investment is just the latest in a long line of investment opportunities that are being exploited and corrupted to the detriment of the industry as a whole. He added that the NFIB sees the creation of an auditable framework of self-regulation as a step towards maintaining and increasing consumer confidence, while also identifying investment companies which do not operate in accordance with the required high standards.

New Code to Tackle Wine Investment Frauds

Following an extensive consultation period, the WIA has set out the standards and procedures with which its members must comply to remain in good standing. Under the new code of conduct to be drawn up, wine investment firms will undergo stringent audits by accountancy firm Mazars. These will include checks on systems such as stock rotation and to make sure that purchase orders and invoices tally. The director of the WIA, Peter Shakeshaft, revealed that companies which successfully complete the independent audit process commissioned by the newly-formed regulatory body will bear a WIA logo offering consumers a trustworthy safety kitemark. Shakeshaft added: Our industry has been held back far too long by unscrupulous practitioners and issues around fraud. The WIA will really hold the industry to account.

Niche accounting firms for the entertainment industry

Finding a professional who can offer you a specialist service can really help you to stay ahead of your game, which is why it’s now possible to find an entertainment accountant who has specific knowledge of your business sector. While using a specialist isn’t an absolute necessity, if these services and options are open to you then surely it makes sense to find an entertainment or music accountant who understands the finer points of your specific industry, and recognises the most effective ways to give your profits a helping hand?

And entertainment accountant can keep your work and profits in sync Whatever part of the industry you work in, whether you’re a famous musician, an emerging artist, or a freelancer who works behind the scenes, a music accountant will have the firsthand knowledge that’s required in order to identify the best tax breaks and the best ways to limit your liability to HMRC, subsequently saving you money and helping you to keep a more healthy percentage of your sales and profits.

Another benefit of using a specialist entertainment accountant is the fact that they can help you to keep up with changes that may affect your industry. Consumer habits are forever on the move, especially in the new digital age where profits can be generated via the Internet as opposed to more traditional, physical sales – these things can have a considerable impact on the way you manage your finances and ensure compliance. What’s more, your entertainment or music accountant will always have a real time record of exactly where you stand financially, so you’ll always know what you’ve got to play with and what tax you’re going to have to pay at the end of the year.

An entertainment accountant can work on a corporate or more personal level A large part of the entertainment industry is populated by self employed and contract workers, but that doesn’t mean that the services of a specialist music accountant is limited just to them. Even huge production houses, entertainment agents who manage multiple celebrities and performers, or even famous studio venues and music engineers can benefit from the experience and knowledge provided by a niche entertainment accountant.

You might think that using a music accountant will cost a small fortune – but in actual fact, just the same as any accountancy service, you can usually find a specialist who will offer you an annual fixed fee rate, so you’ll have access any time you need for a totally transparent cost package. Your entertainment accountant is there to help you with anything you need; so whether you’re thinking of forming a corporate entity, looking for ways to minimise costs and maximise profits, or you simply need help managing your payroll system or monitoring ticket sales, it makes sense to find a reputable music accountant to help.

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The Famous Optical Artist – Bridget Riley an Op Art Pioneer

One of the major Optical Art (Op Art) proponents, British artist and printmaker Bridget Riley was born on the 24th of April, 1931 in London. Riley is most commonly known for her signature black and white oil paintings depicting geographic patterns that cause optical illusions which have become synonymous with the Op Art movement.

Bridget Riley was educated at the Royal College of Art from 1952 to 1955 and in these years her paintings were semi-impressionist and figurative. It was not until the 1960s that her signature style developed.

Riley’s black and white forms – painted in oil paint on canvas – gave viewers the impression of movement and colour due to optical illusions. Works such as -Movement in Squares- (1961), -Black to White Discs- (1961-62), -Loss- (1964), -Blaze 4? (1964), -Drift No. 2? (1966) and -Cataract 3? (1967) typically possessed such characteristics.

Bridget Riley’s paintings also had another feature – the potential for increased audience participation in the appreciation or display of the work of art. This was a hot topic in the 60s, when many performances were being classified as -happenings.- Happenings are unconventional and formless performances where audience involvement actually determines the course of the performance. Riley’s oil paintings were in a sense dependent on what the individual experienced on viewing them. Though the paintings were given names hinting at their subjects, they could be interpreted by the audience in any way.

Riley held the first of these exhibitions, which were pivotal in getting the world’s attention to the Op Art movement and Riley’s art, in 1965 at the Museum of Modern Art, New York City. She had already held her first solo in 1962 at Gallery One, London. Other exhibitions followed, but it was the 1965 show at New York that drew international recognition.

By 1967, Bridget Riley began to modify her style and thought of incorporating oil colour in her art. She began incorporating on colour stripes in an oil painting entitled -Paean- (1973), -Dominance Portfolio, Blue- (1977), -Ra2? (1981) and -Silvered 2? (1981). Crucial to this change was the extensive travelling she undertook from the 1970s. The hieroglyphic decorations she saw during her visit to Egypt played an important part in leading her to incorporate colour and contrast. Her later works are colourful and some of these bright paintings include -Fete- (1999), -Echo- (2000), -Carnival- (2000) and -Sylvan- (2000).

Among the other achievements of Bridget Riley is her distinction of becoming the first woman and British contemporary painter to receive the International Prize for painting at the 1968 Venice Biennale.

Using and supplies in a new and innovative way to pioneer a the Op Art movement in painting, Bridget Riley is undoubtedly one of Britain’s most important artists. Her geometric patterns skilfully created with have influenced many and have been appreciated by all sections of the audience.