Creative Industries Relief

There are 7 different types of corporation tax relief under the wide-ranging umbrella of creative industries relief, enabling qualifying companies to claim larger deductions—these work by boosting the amount of expenditure allowed.

Have a question?
Get A Free Quote
Have a question?
Get A Free Quote

Your partners in planning and success

When working out the enhanced deduction, the core expenditure relates to the total spend on the costs directly incurred in creating the project. The qualifying expenditure relates to the spending on services or goods used; however, the amount of enhancement or payable tax credits are determined by the amount of total core expenditure that has been incurred. They also vary depending on the type of relief claimed. This is a very complex area of tax law, and a skilled and certified accountant can help you navigate it successfully.

Advice For Creative Industries Relief

At The Accountancy Solutions, we can ensure that you only pay as much tax as you have to and that your company remains within the law. Using our knowledge and experience, we can determine the right tax relief to suit your company’s needs. We can submit all of the relevant paperwork at the right time to ensure compliance with HMRC’s regulations.

Companies can claim creative industries relief if They are liable for corporation tax and If they are involved directly in producing and developing any of the following:

  1. Certain films
  2. Children’s and high-end TV programme
  3. Animation programme
  4. Video games
  5. Orchestral concerts or theatrical productions

All must be subject to a cultural test to certify that it meets the criteria.

Types Of Creative Industries Relief

  • Film Tax Relief
  • Animation Tax Relief
  • High-end Television tax relief
  • Children’s television tax relief
  • Video games tax relief
  • Theatre tax relief
  • Orchestra tax relief

OUR PROMISE

We care for our clients. Building and maintaining fantastic relationships is what we do best, we will never treat you as a number which is what makes our approach so unique. The highest level of customer service combined with a keenness to listen and work together with our clients means that we leave a stream of happy clients in our wake every single day. Our services come with unlimited help and support provided at no extra cost throughout the year.That help and advice will all come courtesy of your own fully qualified and dedicated small business accountant.

Got a question?
No problem

Are you just looking for an answer to a general question? We always provide free advice to individuals and self employed persons. You can send us an email, call us or fill in the form. But you should be asking answers to general questions.

Types of Corporation Tax

Its rather types of organisations which need to pay corporation tax. Companies can also be classified as non resident or foreign.

Unincorporated Business

Unincorporated Business are associations registered in companies house. Other types of business will include sole traders and partnerships.

Reliefs And Allowances

Claim corporation tax releif on expenses which are eligible under the law. There are penalties for claiming wrong tax relief.

Tax on Foreign Companies

Corporation Tax on foreign companies will depend on certain conditions. Its not always every foreign company have to pay tax.

Frequently Asked Questions

Most frequent questions and answers

No we do not charge any fee for initial consultation. We will try to give you free guidance if its something you can do easily by yourself. We will only charge you if you appoint us to do some work for you. 

We are giving free advice on general questions and this is one way of paying back to our local community who cannot get through to tax man. But if your question is of specific nature, we will tell you about our fee.

You can certainly ask question about accounting but you should know that we cannot teach you accounting over the phone or online. If you are not familiar with book keeping or accounting, its best to hire an accountant?

If you are only after advice, we will make a decision after hearing question. It may take further investigation and we may have to look into your personal circumstances to answer your question.

Free advice for our clients

Our Services For Business

Client Testimonials

Our clients are our assets and we take every step to look after them and provide them the advice and support when ever they need. 

LET US KNOW IF YOU NEED HELP WITH SWITCHING ACCOUNTANT

It has never been easier to switch accountants. You just need to sign our engagement letter and we will do the rest.

Our Blog

Read our Latest Blog

Uptodate knowledge of tax and business sectors of UK, HMRC and EU written in language you can understand.

Maintaining your NIC contributions Covid-19

If a person already has 35 qualifying years or is likely to do so by the time that they reach state pension age, missing a year will not adversely affect their state pension entitlement. However, if they have less than 35 years (and will be able to reach the minimum 10 years needed for a reduced state pension by the time that they reach state pension age) making voluntary contributions can be worthwhile.

Read More ->

Selling the Buy to Let property at a loss

While any gain on the sale of a property that has been the taxpayer’s main residence throughout the period of ownership is covered by private residence relief, the flip side is that if the main residence is sold at a loss, the loss is not an allowable loss for capital gains tax purposes.

Read More ->