Creative industries in the UK claimed higher tax reliefs in 2023-24, even as the film industry’s claims dipped compared with the previous year, according to official data.
The sector claimed £2.40 billion ($3.29 billion) in tax relief, up from £2.19 billion in 2022-23, with the largest proportional increases seen in theater and children’s TV, data released by His Majesty’s Revenue and Customs on Thursday showed.
Film tax relief, which accounted for around one-fifth of the total tax claims, saw a slight decrease, from £553 million to £534 million over the period.
The creative sector companies are allowed to ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.