Creative sector tax reliefs ― overview

Produced by Tolley in association with

Corporation Tax

Guidance

This guidance note outlines the various tax reliefs for the creative sectors which includes TV, films, video games, theatre, orchestra and museums and galleries.

What relief is available for creative industries?

The creative industry tax reliefs are a set of corporation tax provisions that provide additional tax reliefs to companies in the following sectors :

•
film production
•
television production ― television tax relief covering high-end TV, animations and children’s programmes
•
video games development
•
theatrical production
•
orchestral production
•
museum and gallery exhibition production

The reliefs are generally given in relation to qualifying expenditure as long as a number of conditions are met. The way in which companies in each of these sectors are taxed is subject to a particular set of rules. For instance, the activities carried out by the company on the creative tasks are treated as a separate trade for each production and there are specific rules regarding the treatment of income or losses arising from each activity. This means that income and expenditure

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Will Sweeney

Senior R&D Manager, Menzies LLP , Corporate Tax

Will Sweeney is a Senior R&D Manager in the Innovation & R&D team at Menzies where he looks after many of their largest clients. He has extensive experience of helping entrepreneurial clients to optimise their tax position throughout the innovation lifecycle by advising on issues including R&D tax credits, RDEC, Creative Sector reliefs and the Patent Box.In addition to his tax knowledge, Will started his career as an engineer and has worked with numerous technology, manufacturing and property sector clients. He brings a wealth of industry experience to his clients, helping him to understand the specific technical details of work undertaken by clients.Will contributes to TolleyGuidance Corporate module.

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