High-End Television Tax Relief (sometimes called TV Tax Relief), is a highly beneficial tax relief introduced by HMRC and available to companies meeting fixed criteria.
TV Tax Relief is one of four corporation tax reliefs allowing qualifying companies to claim a larger deduction when calculating their taxable profits, or in certain circumstances to claim a payable tax credit.
Your company will be entitled to claim High-End Television Tax Relief on a programme meeting the following criteria:
- The programme must pass the culture test, meaning that it is considered to have been produced in Britain or in the European Economic Area
- The programme must be intended for broadcast
- The programme must be a documentary, comedy or drama
- At least 25% of the programme’s total production costs must relate to activities within the UK
- The average qualifying production cost must be no less than £1 million per hour of production length
- The slot length mist be greater than 30 minutes of the programme
Bambridge Accountants speciailises in providing tax and accountancy services to individuals and companies in the creative and performance industries. As well as offering advice and handling applications on specialised tax reliefs, we also prepare company accounts, corporation tax returns and personal tax returns for actors, dancers, casting directors, stage managers, TV and film directors and many others within the industry. Contact us today to arrange a free initial consultation and to find out whether your company is eligible for High-End Television Tax Relief.