Creative industry tax reliefs

Creative industry tax reliefs (CITR) are a collection of Corporation Tax reliefs that allow qualifying companies to claim a larger deduction or in some circumstances claim a payable tax credit when calculating their taxable profits. 

CITR includes the following reliefs:

• Film Tax Relief
• Animation Tax Relief
• High-end Television Tax Relief
• Video Games Tax Relief
• Children’s Television Tax Relief
• Theatre Tax Relief
• Orchestra Tax Relief
• Museums and Galleries Exhibition Tax Relief

To qualify for the CITR films, television programmes, animations or video games must pass a 'cultural test' or qualify through an internationally agreed co-production treaty - certifying that the production is a 'British film', 'British programme' or 'British video game'. 

From 1 April 2025, the rates of Theatre Tax Relief, Orchestra Tax Relief and Museums and Galleries Exhibition Tax Relief will be permanently set at 40% (for non-touring productions) and 45% (for touring productions and all orchestra productions). The government will remove the sunset clause for MGETR so that it becomes a permanent tax relief, with no expiry date. The rates had originally been due to be reduced to 30% and 35% in April 2025 until the extension was announced as part of the Spring Budget 2024 measures.

If you need tax advice, send us an email or call us on 01380 723692 and one of our expert and friendly team will be happy to help you.