News story

£850 million record boost for creative sectors

Britain’s world-leading creative sector has benefited from over £850 million of support in the last year, official statistics showed today (19 July 2018).

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The award-winning TV series Peaky Blinders and critically acclaimed film Darkest Hour are among the productions to have made use of the High-End TV and Film Tax Reliefs respectively.

Since their respective introductions, 2,420 films, 310 TV productions and 480 videogames have benefited, and for the first time, Orchestra Tax Relief has helped to showcase 205 musical productions across the UK.

Mel Stride, Financial Secretary to the Treasury and Paymaster General said:

The UK’s world class creative industries – from films to video games to orchestras – are championing culture and innovation both at home and abroad.

We supported these vital businesses with a record £850 million of tax relief last year, helping to boost growth across the country and contribute to the UK’s rich cultural fabric.

Creative Sector Tax Reliefs were introduced to help UK businesses in these highly skilled and innovative sectors thrive at home and abroad, and this year marks the sixth anniversary since they were introduced.

The creative industries employ people from across all parts of the UK. These tax reliefs are helping to ensure creative sector companies can continue to hire people and boost local economies.

Published 19 July 2018