It is great to see the government recognising the importance of the UK creative industries which are integral to ensuring that the UK remains a centre for excellence in digital media and will hopefully help the growth of the UK economy.
Modelled on film tax relief: The consultation paper provides some useful insight into how the tax credits will operate. As widely expected and very sensibly the new tax credits will be largely modelled on the existing film tax credit regime and are intended to deliver a similar quantum of relief (albeit the quantum is subject to later determination by Ministers).
Cultural test – potential for delay: It is disappointing that the government has delayed the consultation on the cultural test required...
