Creative Industry Tax Relief
Do you work in the creative sector?
If you work in a creative industry, then you could qualify for tax relief that will help you put a little extra into your production.
Financing any creative endeavour can be difficult. However, many companies that work within the UK’s creative sector can benefit from significant tax breaks, thanks to the UK Government’s Creative Industry Tax Relief (CITR) scheme.
Phinch specialises in the preparation and submission of CITR claims. We can help you with:
- Animation Tax Relief
- Film Tax Relief
- High-end Television Tax Relief
- Children’s Television Tax Relief
- Video Games Tax Relief
Creative industry tax relief is a form of corporation tax relief designed to support businesses involved in creative production. It allows qualifying companies to reduce their tax bill or claim a payable credit based on eligible production costs.
We use creative industry tax relief to help reduce tax liabilities and improve cash flow for creative businesses. It encourages investment in production and innovation, allowing you to reinvest savings into future projects and growth.
Creative industry tax relief is available to UK companies involved in film, TV, video games, animation, and other qualifying creative productions, provided they meet HMRC requirements and are subject to corporation tax.
Qualifying projects typically include film, animation, high-end television, children’s TV, video games, theatre productions, orchestral performances and exhibitions, as long as they meet the relevant eligibility criteria.
Creative industry tax relief allows businesses to claim enhanced deductions or a tax credit on qualifying production costs. This can reduce your corporation tax liability or if your business is loss-making, provide a cash payment.
Eligible costs can include production staff, materials, software, subcontractors and certain overheads directly related to the creative project. Keeping accurate records ensures all qualifying expenditure is captured correctly.
Yes, most projects must meet strict criteria, such as being produced by a UK company and in many cases passing a cultural test. This ensures the work supports the UK’s creative industries and meets eligibility requirements.
Yes, we support creative businesses across Bristol, Bath and the supporting areas with identifying and preparing creative industry tax relief claims, ensuring all qualifying activities and costs are accurately captured.
Yes, creative industry tax relief can improve cash flow by reducing your tax bill or providing a payable credit. This allows your business to reinvest funds into future productions, innovation, and development.
There are several types of creative industry tax relief available in the UK, covering sectors such as film, television, animation, video games, theatre, orchestras, and exhibitions, each with its own eligibility criteria.
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What our clients say about us
Mike Perry
The whole team are incredibly helpful and great at what they do. I can't recommend them enough!
Malia Brown
Thank you to [The Phinch] team for all your support over the years. It's very much appreciated and valued.
Grace Eden
Excellent guidance through process with a high degree of expertise. A very smooth experience.
Jennifer Muller
I have used [Phinch] services for many years. [The] team have guided me through the complicated processes of US taxes as an expat, and stayed on top of any changes in filing rules. Highly recommended.
Larissa Bulla
[The Phinch] team have been incredibly helpful in the preparation and filing of my US tax returns and FBAR submissions, even when I have been less than fully organised. The team are always prompt and professional. They stay abreast of changes in annual tax rulings and have helped me secure rebates or stimulus payments where these are due. I highly recommend this company.