Loading
Get our free newsletter
The latest news, case studies, events & opportunities across the creative industries.
Thank you! You are now subscribed to our newsletter.
Oops! Something went wrong while submitting the form.

By clicking the Join Now button, you agree to our Terms of Service and Privacy Policy.

Cookies Preferences
Close Cookie Preference Manager
Cookie Settings
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage and assist in our marketing efforts. More info
Strictly Necessary (Always Active)
Cookies required to enable basic website functionality.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
TV and Film

Creative industries tax relief Payouts up 37 per cent

updated
October 24, 2023
Published on:
September 19, 2023
Tax incentives help attract investment for shows like Apple+TV's 'Slow Horses' (Image: Apple+)

A total of £1.66 billion of tax relief was paid out in relation to the 2021 to 2022 financial year, across all the creative industries tax reliefs. This is a 37 per cent increase from £1.06 billion in the 2019 to 2020 financial year.

The jump was mainly driven by a sharp rise in the amount of High-end television (HETV) tax relief. For claims relating to the 2021 to 2022 financial year, HETV tax relief accounted for 50 per cent of the total amount paid out and Film tax relief accounted for 31 per cent of the total (Figure 1 and Table 1). This is the first year in which the amount of HETV tax relief has exceeded Film tax relief.

There were 475 claims made for HETV relief in relation to the 2021 to 2022 financial year, totalling £829 million of relief. This is an increase of 131 per cent from the previous year, showing a steep increase in HETV relief since the Covid-19 pandemic.

This growth is driven largely by an increase in high-budget productions. The increase in HETV relief is in line with recent statistics produced by the British Film Institute on HETV production expenditure, which has seen substantial growth in recent years.

In contrast to most of the creative industry sectors, in which the number of claims was either in growth, stable or only down slightly, the number of claims from the orchestra category has been less consistent.

More information here.

Image: Apple+

Get our free monthly newsletter

The latest news, case studies, events & opportunities across the Creative Industries sector.

Thank you! You are now subscribed to our newsletter.
Oops! Something went wrong while submitting the form.

By clicking the Subscribe button, you agree to our Terms of Service and Privacy Policy.