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Good news if you’re freelancing, contracting, or running your own business in the TV, animation, or video game industries: you may be entitled to pay less Corporation Tax.
There are currently six different types of creative industry projects that can benefit – films, animation, high-end television, children’s television, video games and theatre productions. Each relief has very specific criteria that the project concerned must meet, and we would advise speaking to your accountant to clarify whether your production qualifies.
A tax credit of up to 25% is available to British film production companies. Read more about Film Tax Relief (FTR).
Animation Tax Relief is available for some projects where at least 51% of the total core expenditure is on animation. Read more about Animation Tax Relief (ATR).
High-End Television Tax Relief is available for some drama, comedy or documentary projects. Read more about High-End Television Tax Relief (HTR).
Children’s Television Tax Relief is available based on productions where the primary audience is expected to be under the age of 15. Read more about Children’s Television Tax Relief (CTR).
Video Games Tax Relief is available for the production of some video games. Read more about Video Games Tax Relief (VGTR).
Your theatrical production company may be entitled to claim TTR on a production if it is “a play, opera, musical, or other dramatic piece”. Read more about Theatre Tax Relief (TTR).
In all instances, if you are a Crunch client, and you would like more information, an accountant will be able to assist.
You might avoid a fine if a close relative died shortly before the self assessment deadline, you've been seriously ill, or if you had major IT problems.