Tax Relief & Tax Planning for Creative Industries

Introduction

As the creative industry has grown in the UK, the Government has given a number of tax reliefs that are specific to the creative industries as well as some specific tax planning methods that creative industries can use. There have been increases to these reliefs but also new restrictions on their use are proposed.

2024 sees the introduction of the expenditure credit mechanism which changes the way in which tax relief is obtained. There will also be changes to the territorial basis for qualifying expenditure which broadly reduce the ambit to UK expenditure rather than in the European Economic Area.

2024 also sees the consolidation of some of the tax relief regimes.

This in-person seminar will look at the effect of these changes as well as recent case law defining the limits of the relief available and is suitable for anyone advising or operating in the creative industries.

What You Will Learn

This course will cover the following:

• Special corporate reliefs for creative industries
• The temporary post covid enhancements
• The new restrictions and conditions
• R&D tax reliefs
• Interest relief
• Investment reliefs including EIS and VCT
• Image rights - the current position
• Non-resident entertainers/the opportunities and obligations
• Residence and domicile issues
• Corporate structures