Policy paper

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.

Documents

Details

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.

Updates to this page

Published 22 November 2023

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