Written Question·Treasury·UIN 5457
Film: Tax Allowances
Tabled: 11 September 2024
Answered: 7 October 2024
Question
Tom Hayes
Labour — Bournemouth East
To ask the Chancellor of the Exchequer, if her Department will bring forward the implementation of the five per cent increase in tax relief for UK visual effects in film and high-end TV, with UK visual effects costs exempt from the 80 per cent cap on qual
Answer
James MurrayQualifying visual effects costs in film and TV are already eligible for the Audio-Visual Expenditure Credit, which provides a tax credit worth 34% of a film or TV company’s production costs. The previous Government announced that from 1 April 2025, UK vis...
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