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Kristian Jones, Founder, Truck Hydraulics Find out more
Creative Industry Tax Relief (CITR) refers to a set of tax incentives introduced by the UK government to support businesses operating in creative industries. These tax reliefs are designed to encourage investment in sectors such as film, television, animation, video games, and theatre, fostering growth, innovation, and job creation within these industries.
There are several types of Creative Industry Tax Relief schemes, each tailored to specific sectors:
Each of these tax relief schemes offers eligible companies the opportunity to claim a proportion of their production costs as tax relief, reducing their tax liabilities. The exact criteria and rules for eligibility vary depending on the specific scheme.
To qualify for Creative Industry Tax Relief, productions must meet certain cultural and expenditure criteria outlined by HM Revenue & Customs (HMRC). Additionally, companies must apply for certification from the British Film Institute (BFI) or other relevant certification bodies to confirm that their productions meet the necessary requirements.
Overall, Creative Industry Tax Relief schemes play a crucial role in supporting the growth and competitiveness of the UK's creative industries by providing financial incentives for investment and innovation.
You can claim back up to 33% of your eligible R&D spend, and both profitable and unprofitable companies are eligible.
For a clear and simple guide to what R&D Tax Credits are and whether your company is eligible, download our PDF.
Whatever the industry, we can help you identify and make the most of R&D Tax Credits with an expert national team that makes the process as simple and rewarding as possible.