Creative industry tax reliefs are a group of eight Corporation Tax reliefs that allow qualifying companies to claim a larger deduction, or in some circumstances claim a payable tax credit when calculating their taxable profits.
These reliefs are:
- Film Tax Relief (FTR)
- Animation Tax Relief (ATR)
- High-end Television Tax Relief (HTR)
- 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)
These reliefs work by increasing the amount of allowable expenditure. Where your company makes a loss, you may be able to 'surrender' the loss and convert some or all of it into a payable tax credit.
Find detail guidance on the creative industry tax reliefs.