- New and improved tax credit system for film, TV and video game production companies starts from today (1 January 2024)
- An extra £42,500 in relief for children’s TV, animated TV and animated film production
- £5,000 in relief for high-end TV, film or video game production
To maximise the potential of the UK’s cutting-edge production industry and help incubate unique British talent, the government’s Audio-Visual Expenditure Credit and the Video Games Expenditure Credit replace the previous tax reliefs for film, TV and video games.
All companies will receive more tax relief than they did under the previous system, greater flexibility over production decisions and greater clarity about the amount of credit companies can expect to receive.
Read full report here