What is Creative Tax Relief?
Creative businesses pour their resources into bringing ideas to life. What many don't realise is that HMRC will reward them for it. Creative Industry Tax Reliefs are a collection of government-backed incentives that allow qualifying businesses to reclaim a portion of their production costs, reducing their tax bill or generating a direct cash payment.These reliefs cover a wide range of sectors including film, television, animation, video games, theatre, orchestra, and museums and galleries. It's money your business is entitled to, and we are here to make sure you get it!
Identify
We start with a free consultation. We have a detailed review of your business activities to uncover every qualifying relief available to you.
Prepare
We prepare a technically robust and fully compliant claim on your behalf, ready for submission to HMRC. Sit back, we got this.
You Get Paid
The best bit! You get paid. We submit to HMRC and see the process through until the money lands with you. Only at this point we take our fee
Creative Industry Tax Reliefs
Creative Industry Tax Reliefs are a collection of government-backed Corporation Tax incentives designed to support businesses producing qualifying creative content across eight sectors:
-
Film Tax Relief (FTR)
-
High-end Television Tax Relief (HTR)
-
Animation Tax Relief (ATR)
-
Children's Television Tax Relief (CTR)
-
Video Games Tax Relief (VGTR)
-
Theatre Tax Relief (TTR)
-
Orchestra Tax Relief (OTR)
-
Museums and Galleries Exhibition Tax Relief (MGETR)
How It Works
If your business qualifies, you can claim an additional tax deduction based on the eligible production costs for each qualifying project, whether that is a film, TV programme, animation, video game, theatrical production, orchestral concert, or exhibition.
For profit-making companies, this additional deduction either reduces the amount of Corporation Tax you owe or creates a loss that can be surrendered to HMRC in exchange for a direct cash payment.
For charitable organisations, which are typically exempt from Corporation Tax, any loss generated by the additional deduction can still be surrendered to HMRC for a payable tax credit, putting cash directly back into the organisation.
The Bottom Line
These reliefs are designed to reward creative businesses for the work they are already doing. If you are producing qualifying content, you are entitled to claim. We make sure you get every penny.
Contact
Like what you see? Get in touch to learn more.
