Creative Industry Tax Reliefs
HMRC has issued details on the five corporation tax reliefs available in the creative industry sector. The reliefs work by increasing the amount of allowable expenditure for tax purposes. If your company makes a loss you may be able to surrender the loss and convert some or all of it into a payable tax credit.
The four existing reliefs are Film Tax Relief, Animation Tax Relief, High-end Television Tax Relief and Video Games Development, and the Theatre Tax Relief is due to be introduced in Autumn 2014.
This guide explains who can claim the reliefs, and how and when to claim.
HMRC’s guide provides details on what companies can qualify for the reliefs and gives details of the various reliefs.
Date: 9th July, 2014
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