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.
- Policy Paper Reform of audio-visual creative tax reliefs
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.
The Audio-Visual Expenditure Credit will replace the:
- Film Tax Relief
- High-End TV Tax Relief
- Animation Tax Relief
- Children’s TV Tax Relief
The 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’s TV will be eligible for an uplifted rate of 39%.
The 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.