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Saving money as a musician

ISM membership not only offers a valuable range of vital insurances and support for your music career, you can use it to make life working in music more affordable.


For significant savings, your ISM membership provides you with a range of career related discounts, from a wide range of providers of instrument and equipment insurance to rehearsal rooms and sheet music. On top of that, our brand new ISM Discount Plus scheme can help with other expenses, from the weekly shop to saving on new Apple and Samsung tech.

Remember, you can also save money on your ISM membership through our Recommend a Friend scheme. Recommending a friend for membership will save them money on their first year, as well as saving money when you next renew your membership.

Tax help

As so many musicians are freelancers, understanding tax and what you can claim for can help you save money. ISM members can contact our tax helpline for support while doing self-assessment tax returns, and we also have discounts available on accountancy services for those who want additional professional advice.

ISM is on the list of Government approved professional bodies, and membership can be claimed as an expense.

Making tax digital

Making Tax Digital (MTD) is part of the government’s plan to modernise the UK tax system using digital technology from 1 April 2019.

Contract support

Writing robust contracts might not seem the most obvious way of saving money, but a good contract can avoid misunderstandings between you and your students or other clients, like a sudden cancellation of a set of lessons that would lose you income. Just make sure you understand what your contractual obligations are too.

The ISM legal team can advise you on updating our template contracts or understanding contracts from other parties. Our unpaid fees service can also help you regain any lost earnings, and in some cases, the legal expenses insurance available as part of your ISM membership may be able to help you even if your client doesn’t pay.

Health and wellbeing services

As we've learnt over the past few years, sometimes it's hard to prepare for every eventuality. Health issues can cause double the impact if they're stopping you from working, or accessing them in the first place is cost prohibitive. ISM membership includes access to ISM Members Fund physiotherapy and counselling services, so getting back on your feet won't cost you extra money.

Help with budgeting

We’re all trying to save money as inflationary pressures bite. Working out exactly what money you have coming in and out can be the first step to feeling in control of your finances. Members can use our musicians' budget calculator and read advice from The Money Charity on budgeting on an irregular income.

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