Creative Investing - Tax Relief Data
Film Tax Relief (FTR)
In 2015-16, 210 films made in the UK claimed FTR with UK expenditure of over £1.0 billion. Since the relief was introduced, 1,800 films have made claims, accounting for over £8.0 billion of UK expenditure.
2,430 films have received certification (either interim or final) since Film tax relief was introduced in January 2007. Of these, 1,700 films have been granted a final certificate, and 735 films have been granted an interim certificate. Of those with an interim certificate, the majority go on to receive final certification.
Over £1.8 billion has been paid out to meet claims since the current film tax relief was introduced in January 2007, of which £1.3 billion were tax credit claims paid to large-budget films and £540 million to limited-budget films.
In 2015-16, £340 million was paid in response to 530 claims.
High-end Television Tax Relief (HTR)
In 2015-16, 50 television programmes made in the UK claimed HTR with UK expenditure on these programmes of £300 million. Since the relief was introduced, 145 programmes have made claims, supporting £947 million of UK expenditure.
Since the introduction of the relief in 2013, 235 high-end television productions have been certified. Of these, 140 were granted a final certificate, and 95 have been granted an interim certificate.
In 2015-16, £96 million was paid in response to 115 claims.
£203 million have been paid out in response to claims since the High-end television tax relief was introduced.
Animation Tax Relief
Since the introduction of the relief in 2013, 65 animation productions have claimed the relief with UK expenditure of £110 million. There were 20 animations with a finance year of completion of 2015-16 and these had UK expenditure of £38 million.
150 animation productions have been certified. Of these, 80 have been granted a final certificate.
Almost £19 million has been paid out in response to claims for Animation tax relief since the introduction of the relief.
Video Games Tax Relief (VGTR)
Since Video Games tax relief was introduced in April 2014, there have been 135 claims for VGTR, supporting UK expenditure of £417 million.
In 2015-16, there were 65 claims with that financial year of completion covering £215 million of UK expenditure.
In 2015-16, £45 million was paid in response to 130 claims.
Source: Creative Industries Statistics Commentary, HMRC.
Published: July 2016.
Related: Investing in the UK creative industries (Chinese version)