News: August 2012
Extra corporation tax relief for the creative sector
There are proposals for enhanced corporation tax reliefs from 1 April 2013 which target businesses in the animation, high-end TV and video games industries. The aim of such reliefs is to make the UK the technology centre for Europe and avoid the risk of under-investment in those sectors.
The rate of relief is expected to be in line with the film tax relief regime, which is worth 12% to 20% of core expenditure depending on the film budget and whether or not a repayable credit is taken.
If you are involved in this sector we are ready to advise you on the tax planning opportunities available.