Extra corporation tax relief for the creative sector

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.

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