Open consultation

Consultation on additional tax relief for visual effects costs

From:
HM Treasury
Published
27 March 2024

Summary

Consultation on the 5% increase in Audio-Visual Expenditure Credit and removal of the 80% cap on qualifying expenditure, for UK visual effects costs.

This consultation closes at

Consultation description

At Spring Budget 2024, the government announced that UK visual effects costs in film and high-end programmes will receive a 5% increase in Audio-Visual Expenditure Credit (total rate 39%). UK visual effects costs will also be exempt from the Audio-Visual Expenditure Credit’s 80% cap on qualifying expenditure. These changes will take effect from 1 April 2025.

This document sets out more detail about how the additional tax relief will work and invites comments on the government’s proposed policy design, including the types of costs that will qualify. The document also provides the government’s response to submissions to the call for evidence on the UK visual effects sector, which ran from 22 November 2023 to 10 January 2024.

Documents

Consultation on additional tax relief for visual effects

Ref: ISBN 978-1-917151-08-5

PDF, 179 KB, 22 pages

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Ways to respond

Email to:

vfxconsultation@hmtreasury.gov.uk

Published 27 March 2024