Our specialist tax team looking after those in the media and entertainment industry provide:
- Assistance and advice in completing Self-Assessment, your annual tax return for the Revenue (HMRC)
- Assistance and support with complying with Making Tax Digital – the digital filing of tax returns for the self employed, partnerships and companies
- Advice on the tax treatment of income earned overseas for UK residents
- Advice on the tax treatment of income earned in the UK from overseas residents
- Advice on Creative Industry Tax Credits and Reliefs - UK Film and TV Tax credits
- Access to in country tax advice, for those working in or carrying out business overseas especially in the United States including Los Angeles
Creative industry tax reliefs
We have a great deal of experience in making claims on behalf of our clients for various creative industry tax credits.
Firstly, we can advise on the qualifying conditions which need to be met for the various reliefs. Once we are satisfied that the criteria for a claim have or will be met, we can then identify the qualifying expenditure and make the appropriate claim on the company form CT600. We will advise on the documentation which is required to accompany the claim so that this is processed by the tax office as quickly as possible.
Tax credits often form part of our tax planning process for our clients – for example we may suggest a shorter accounting period for a film production in order to accelerate the payment of the tax credits or we may suggest a longer period to envelope a greater amount of qualifying expenditure. The reliefs may also impact on early decision making, such as the location of the shoot or work to be carried out, so we can provide advice on likely credits at an early stage in the creative process.
We have advised our clients on Film Tax Relief (FTR), Video Games Tax Relief (VGTR), Theatre Tax Relief (TTR), Animation Tax Relief (ATR) and Children’s Television Tax Relief (CTTR).
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