One minute with Joanna Emmitt, Tax Director at EAM London.
What’s keeping you busy at work?
Alongside the usual cycle of corporate and personal tax compliance deadlines, a large share of my current workload is driven by the introduction of the Audio-Visual Expenditure Credit (AVEC) and Independent Film Tax Credit (IFTC) last year. These new incentives replaced the long-standing Film Tax Relief regime, bringing revised qualifying criteria, headline rates, and transitional rules.
Clients are seeking guidance on how their projects meet the statutory conditions, such as the UK core expenditure rules and the cultural test, and how to navigate the updated procedures. The Additional Information Form, which must be submitted before any claim, together with the expanded connected party transaction disclosures, has proved a particular challenge. Both require in-depth analysis of intercompany arrangements, careful timing of submissions, and robust supporting evidence. Transitional claims, for productions spanning the change-over from the old regime, add further complexity where eligibility overlaps with older reliefs.
What do you know now that you wish you’d known at the start of your career?
Tax legislation is vast. Early in my career, I felt pressure to have all the answers across every tax area. With experience, I’ve realised this is unrealistic and unnecessary. Deep expertise in one or two niche areas, combined with a working awareness of the rest, is far more effective. Building a trusted network of other specialists means I can still provide holistic advice without needing to personally hold every piece of knowledge. In short: don’t aim to know it all; aim to know your area inside out, and know who to ask for the rest.
If you could make one change to tax, what would it be?
I would reintroduce Seed Enterprise Investment Scheme (SEIS) eligibility for low-budget film productions. Until 2018, micro-budget projects could access SEIS funding, enabling early-stage creatives to raise capital. The rule change requiring the ‘growth and development’ condition excluded most small productions. This is especially challenging for films that, while low budget, do not meet AVEC’s theatrical release requirement, leaving them ineligible for AVEC /IFTC reliefs. Investment is then difficult to secure. Such films often hold cultural value despite lacking commercial aims. A targeted SEIS carve-out for qualifying cultural productions could sustain diversity in the creative sector, reflecting the scheme’s original intent.
Has a recent change in HMRC practice impacted your work?
The phased roll-out of MTD for ITSA has been a major consideration. Although quarterly digital updates will not be mandatory for most unincorporated businesses and landlords until April 2026, we joined the pilot with a small group of clients. The process has been valuable but not without challenges. Issues have included software integration problems, duplicate entries and mismatches between HMRC’s published guidance and the actual portal. Some clients found the quarterly cycle disruptive to established bookkeeping routines, while others welcomed the improved real-time view of liabilities. Tackling these issues now puts us in a stronger position to guide more clients through the change in 2026.
You might not know this about me but...
Outside work, I volunteer at a Saturday Polish school, supporting heritage language and cultural education for children of Polish descent. The school’s founder, Barbara O’Driscoll, has led it for over 50 years and authored several books. One of these, Just Say a Hail Mary, inspired my lasting interest in the post-war history of the Polish diaspora in the UK and the personal stories behind migration and resettlement.
One minute with Joanna Emmitt, Tax Director at EAM London.
What’s keeping you busy at work?
Alongside the usual cycle of corporate and personal tax compliance deadlines, a large share of my current workload is driven by the introduction of the Audio-Visual Expenditure Credit (AVEC) and Independent Film Tax Credit (IFTC) last year. These new incentives replaced the long-standing Film Tax Relief regime, bringing revised qualifying criteria, headline rates, and transitional rules.
Clients are seeking guidance on how their projects meet the statutory conditions, such as the UK core expenditure rules and the cultural test, and how to navigate the updated procedures. The Additional Information Form, which must be submitted before any claim, together with the expanded connected party transaction disclosures, has proved a particular challenge. Both require in-depth analysis of intercompany arrangements, careful timing of submissions, and robust supporting evidence. Transitional claims, for productions spanning the change-over from the old regime, add further complexity where eligibility overlaps with older reliefs.
What do you know now that you wish you’d known at the start of your career?
Tax legislation is vast. Early in my career, I felt pressure to have all the answers across every tax area. With experience, I’ve realised this is unrealistic and unnecessary. Deep expertise in one or two niche areas, combined with a working awareness of the rest, is far more effective. Building a trusted network of other specialists means I can still provide holistic advice without needing to personally hold every piece of knowledge. In short: don’t aim to know it all; aim to know your area inside out, and know who to ask for the rest.
If you could make one change to tax, what would it be?
I would reintroduce Seed Enterprise Investment Scheme (SEIS) eligibility for low-budget film productions. Until 2018, micro-budget projects could access SEIS funding, enabling early-stage creatives to raise capital. The rule change requiring the ‘growth and development’ condition excluded most small productions. This is especially challenging for films that, while low budget, do not meet AVEC’s theatrical release requirement, leaving them ineligible for AVEC /IFTC reliefs. Investment is then difficult to secure. Such films often hold cultural value despite lacking commercial aims. A targeted SEIS carve-out for qualifying cultural productions could sustain diversity in the creative sector, reflecting the scheme’s original intent.
Has a recent change in HMRC practice impacted your work?
The phased roll-out of MTD for ITSA has been a major consideration. Although quarterly digital updates will not be mandatory for most unincorporated businesses and landlords until April 2026, we joined the pilot with a small group of clients. The process has been valuable but not without challenges. Issues have included software integration problems, duplicate entries and mismatches between HMRC’s published guidance and the actual portal. Some clients found the quarterly cycle disruptive to established bookkeeping routines, while others welcomed the improved real-time view of liabilities. Tackling these issues now puts us in a stronger position to guide more clients through the change in 2026.
You might not know this about me but...
Outside work, I volunteer at a Saturday Polish school, supporting heritage language and cultural education for children of Polish descent. The school’s founder, Barbara O’Driscoll, has led it for over 50 years and authored several books. One of these, Just Say a Hail Mary, inspired my lasting interest in the post-war history of the Polish diaspora in the UK and the personal stories behind migration and resettlement.
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