CREC010900 - Overview and definitions: legislation

The Audio-Visual Expenditure Credit (AVEC) and Video Games Expenditure Credit (VGEC) were introduced in Finance Act 2024 (FA24). The provisions now form Part 14A of the Corporation Tax Act 2009 (CTA09), covering: 

  • Chapter 1: Introduction and Interpretation 

  • Chapter 2: Special Rules About Taxation 

  • Chapter 3: Expenditure Credit 

  • Chapter 4: Films and Television Programmes 

  • Chapter 5: Video Games 

Part 14A replaces Parts 15 to 15B of CTA09, which contain the old tax reliefs for film, television and video games. 

The old reliefs are closed to new productions from 1 April 2025 and cease entirely from 1 April 2027. Please see Chapter 9 of this manual for details of the commencement of Part 14A and the transition period between the old reliefs and the expenditure credits.