Creative Industry Tax Reliefs: Who Qualifies and What You Get
Learn how companies producing animation or video games can access tax relief on their production costs in the United Kingdom.
This scheme provides financial relief to businesses involved in the creation of digital and visual media. It is designed to help offset the costs of producing animation and video games.
Who it's for
This relief is intended for companies that are actively producing animation or video games.
What you get
You can claim tax relief on the costs incurred during the production of your creative projects. This helps lower the overall tax burden related to your production expenses.
What it costs you
To access this benefit, you must operate under a limited company structure. You cannot claim these reliefs if you are working as an individual.
The catch to know
A common mistake is attempting to claim this as a sole trader. This relief is specifically for production companies, so you must have a formal company setup to qualify.
How to apply
- Ensure your business is set up as a limited company.
- Confirm your projects fall under the categories of animation or video games.
- Keep detailed records of all production costs.
- Check the official government portal for specific filing instructions.