½Û×ÓÊÓƵ

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.

A television production company may claim an additional corporation tax deduction in respect of qualifying expenditure¹. For these purposes, 'qualifying expenditure' refers to core expenditure that would normally be taken into account² in calculating the profit or loss of the trade for tax purposes³. Core expenditure is expenditure television production activities in connection with the programme, whether this is on pre-production, principal photography and post production⁴. The relief is claimed through the company tax return