If you run a business involving the creation of animation programs, high-end TV programs, or video games, you can look forward to extra tax relief on production costs. This results in corporation tax relief on no less than 200% of the actual costs of UK expenditure up to a maximum of 80% of the total core expenditure.
We now have more details of the rules and regulations and can advise you of the scope for getting this new tax relief, which can give you an alternative tax credit where the enhanced tax relief results in a loss arising.
HMRC promise a proactive approach through their new CREATIVE INDUSTRIES TEAM and in particular has a target to process 98% of tax credit claims within 28 days.
Contact us today to evaluate whether you will be entitled to relief and make a claim.