Creative Industry Tax Reliefs

The creative industries are a considerable part of the UK economy and as such the HMRC have released a tax incentive for any new project that is created/produced here. If your company produces content within Video Games, Film, Theatre, High End Television, Children's television or the Animation industry; then this relief will be best suited to you.

What is the benefit? The relief is worth up to 20% of the core expenditure and can be claimed as a tax credit which can be cashed in for a tax refund even if you have not paid any corporation tax!

So for any production title costing £500,000 the benefit could be worth £100,000 in the form of a tax refund.
Do you qualify? To qualify you need to be a company with a corporation tax liability.

The title needs to be certified by the British Film Institute (we can help with this process).
What about R&D tax credit? A company can qualify for both Creative Industry Tax Relief and R&D but you will need technical experts to clearly define the project costs into either CITR and R&D.

We have experts versed in both tax allowances and can clearly identify for the client the most appropriate benefit as an individual or mixed relief.
Want to know if you qualify? Get in touch and one of our experts will review your case.