Creative Industry Tax Reliefs

At Nyman Libson Paul we are experts in both the Accounting and Entertainment industries. The perfect example of this fusion and expertise lies in our handling and processing of the Government's Creative Tax Reliefs (CITR).

CITR allows qualifying companies to claim a larger deduction, or in some circumstances claim a payable tax credit from HMRC when calculating their taxable profits. These reliefs work by increasing the amount of allowable expenditure. It is a very lucrative relief for productive companies.

CITR now encompasses tax incentives aimed at supporting the animation, high-end television and video games industries, in addition to the existing relief available for film production. Theatre relief was launched in September 2014. These reliefs are designed to promote culturally-relevant productions in the UK, to incentivise investment into UK Productions that would otherwise take place outside the UK.

All productions must be certified by the Department for Culture, Media & Sport (DCMS) as culturally British in order to be eligible for relief.

Film Tax Relief (FTR) was introduced in April 2007 and additional reliefs have subsequently followed. Animation Tax Relief (ATR) and High-End Television Tax Relief (HTR) in April 2013, Video Games Tax Relief (GTR) on 1 April 2014, Theatre Tax Relief (TTR) on 1 September 2014, Children's Television Tax Relief (CTTR) on 1 April 2015 and Orchestra Tax Relief due from 1 April 2016.

NLP guide and advise productions and individuals wishing to claim all forms of CITR from beginning to end, Dave Morrison and Anthony Pins are both industry leading experts in the various media sectors, and have been involved in many CITR claims. They are here to help with all your potential CITR claims and queries. Dave in fact had the very first ATR claim successfully processed by the HMRC in the UK!

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