The proposed creative industries tax relief

The proposed creative industries tax relief will increase the UK’s competitiveness in the animation high end television and video games sectors as long as the government sets the rate of relief at a competitive level.

The government announced the proposed introduction of corporation tax reliefs for the animation high-end television and video games industry in the 2012 Budget. Subject to EU State aid approval legislation is expected to be included in Finance Bill 2013 and the new regime will apply from 1 April 2013. Since the announcement HM Treasury and HMRC have been consulting widely with industry both formally...