From 1 January 2024 tax relief for films or TV programmes is given through the audio-visual expenditure credit (AVEC). Prior to 1 January 2024 relief was provided through an additional corporation tax deduction or a tax credit (see D7.1204 onwards for films and D7.1230 onwards for TV). The transition to the revised tax relief rules post 1 January 2024 is voluntary but will be obligatory for new productions from 1 April 2025 and for all productions from 1 April 2027, at which point the previous tax reliefs will cease. Where a company elects into the AVEC and the accounting period straddles 1 January 2024, expenditure is apportioned.
AVEC is available to qualifying producers of qualifying films and qualifying TV programmes. The qualifying conditions for both are set out below.
Definition of a qualifying film
A film includes any record, however made, of a sequence of visual images that is capable of being used as a means of showing that sequence as a moving picture. Each part of a series of films is
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Web page updated on 17 Mar 2025 16:50