The tax reliefs for the creative sector have expanded substantially over recent years and now include:
While these reliefs have similar characteristics, there are conditions which are specific to each.
Our team of creative sector specialists, including two partners and two senior managers, are here to guide you through the rules to ensure that you take full advantage of these reliefs. This will include looking critically at production expenditure and whether it meets the criteria for the relief concerned. They are experienced in dealing with claims in the not-for-profit sectors as well as for commercial entities.
The timing of a claim can also be crucial, and we will look to expedite the process especially where the tax credit is critical to cash flow.
We can also advise on the overall business structure to ensure that the reliefs can be optimised.
Finally, certain reliefs have a ‘Culturally British’ test, and this may require an accountants Report. Our Media Team can assist with this aspect of the claim to ensure that the production can qualify.
If you’ve got any questions about Creative sector tax reliefs, get in touch with our expert partner in this field, Mike Hayes.