Reform of film, TV and video games tax reliefs to expenditure credits
This tax information and impact note is about the reform of the film, TV and video games tax reliefs to expenditure credits.
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This measure confirms that the audio-visual tax reliefs will be reformed to above-the-line expenditure credits, similar to the Research and Development Expenditure Credit.
皇冠体育app Audio-Visual Expenditure Credit will replace the:
- Film Tax Relief
- High-End TV Tax Relief
- Animation Tax Relief
- Children鈥檚 TV Tax Relief
皇冠体育app Video Games Expenditure Credit will replace the Video Games Tax Relief.
Film, high-end TV and video games will be eligible for a credit rate of 34%. Animated film and TV and children鈥檚 TV will be eligible for an uplifted rate of 39%.
皇冠体育app expenditure credits will be available to claim from 1 January 2024. New productions must claim under the new expenditure credits from 1 April 2025 and all productions must claim under the expenditure credits from 1 April 2027 when the current tax reliefs will end.