Companies making claims for Creative Industry Tax Relief will be required to submit an Additional Information Form (AIF) from 1 April 2024 onwards.
Statutory Instrument 2024/320 introduces additional reporting requirements, effective from 1 April 2024:
- All Creative Industry Tax Relief claims (including Audio-Visual Expenditure Credit (AVEC) & Video Games Expenditure Credit (VGEC) must include an Additional Information Form (AIF).
- The AIF is an online form that will be submitted to HMRC through the Government Gateway account of either a representative company or their agents.
- Failure to comply with the new requirements could cause Creative Industry Tax Relief claims to be invalid.
- Companies that have Connected party transactions will be required to provide information about these transactions. Failure to provide this information could result in the total qualifying expenditure being reduced by the amount of connected party expenditure.
Useful guides on this topic
Creative Industries: Audio-Visual Expenditure Credit (AVEC) & Video Games Expenditure Credit (VGEC)
Audio-Visual Expenditure Credit (AVEC) will replace Film Tax Relief (FTR), High-End TV Tax Relief (HETR), Animation Tax Relief (ATR), and Children’s TV Tax Relief (CTR). Video Games Expenditure Credit (VGEC) will replace Video Games Relief (VGTR).
Creative Industries: AVEC worked example
How to calculate the Audio-Visual Expenditure Credit (AVEC) and Video Games Expenditure Credit (VGEC)?
Creative Industries: AVEC worked example (with losses)
How to calculate the Audio-Visual Expenditure Credit (AVEC) and Video Games Expenditure Credit (VGEC)? How to determine the credit repayable to the company if it incurs losses?
Creative Industries: Film Tax Relief and Television Tax Relief
Film Tax Relief (FTR), High-End TV Tax Relief (HETR), Animation Tax Relief (ATR) and, Children’s TV Tax Relief (CTR) are part of the UK's suite of creative industry tax reliefs.
Creative Industries: Video Games Tax Reliefs (VGTR)
What is Video Games Tax Relief (VGTR)? Who can claim VGTR? When will VGTR cease?
Creative Industries: Theatre Tax Relief (TTR)
What is Theatre Tax Relief (TTR)? Who can claim it? What are the conditions?
Creative Industries: Orchestra Tax Relief (OTR)
What is Orchestra Tax relief? What are the qualifying conditions? What is the rate of relief?
Creative Industries: Museum & Gallery Exhibitions Tax Relief (MGETR)
What is Museum & Gallery Exhibitions Tax Relief? When does it apply?
Control & connections: Definitions for taxes
A useful crib sheet to remind you of the different control and connection tests for Income and Corporation Tax.
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