The following rules apply to accounting periods ending before 1 January 2024. From 1 January 2024 tax relief for films and TV productions is given through the audio-visual expenditure credit (AVEC), see D7.1202. 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.
UK expenditure condition
Where the principal photography is not completed before 1 April 2015 at least 10% of the core expenditure incurred1 on the relevant programme must be UK expenditure2. Where the principal photography is completed before 1 April 2015, at least 25% of the core expenditure incurred on the relevant programme must be UK expenditure3.
'Core expenditure' refers to production expenditure on pre-production, principal photography and post production. 'Production expenditure' means expenditure on television production activities
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