This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print page

Finance Bill – Deloitte comments on the creative industries tax relief draft legislation

11 December 2012

Rachel Austin, Deloitte director commenting on today’s Finance Bill says: “Following the announcement on the rate of the proposed creative industries tax relief in last week’s Autumn Statement, the Government has published its response to the consultation that took place over the summer. Draft legislation setting out the details of the relief, including the British cultural tests that companies will need to pass to qualify for relief, has also been published. The Government has confirmed that the proposed relief, which was first announced in Budget 2012, will be based on the current film tax relief. Guidance on the application of the relief will be published in due course and, subject to EU State Aid approval, the relief will apply from 1 April 2013.

“Companies engaged in the production of culturally British video gaming, animation and high end TV programming will have been delighted with last week’s announcement that the relief will offer a payable tax credit worth 25 per cent of qualifying expenditure. This will meet the Government’s objective of introducing reliefs that are among the most generous available anywhere. The detailed response published today shows that the Government has listened to comments made during the consultation, extending the high end television relief to documentaries, allowing more mixed content productions to qualify as animations and scrapping the proposed minimum threshold for video games.

“The current film tax relief provided £214 million of support to the British film industry in 2011-12, and has supported over £5 billion of investment into British films and seen a 70 per cent increase in the film production workforce since its introduction in 2007. Research by industry bodies has concluded that the new creative industries tax relief could create thousands of jobs in the UK and have a significant positive impact on UK GDP. TIGA, the videogame industry trade association, estimates that the relief could enable UK video games developers and digital publishers to secure 4,660 direct and indirect highly skilled jobs, and increase the game development sector’s contribution to UK GDP by £283m over the next five years. Research carried out by the TV Coalition concluded that a UK tax credit, similar to that of the film industry, would generate at least £350 million per year as a result of high-budget TV production relocating to the UK. It also said that it would create thousands of jobs and preserve British skills in a highly competitive economy.”


Note to editors
In this press release references to Deloitte are references to Deloitte LLP, one of the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

Media contacts

Laura Parsons
Deloitte LLP
Job Title:
+44 (0) 20 7303 0885

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options

Get in touch

More on Deloitte