Supercharging the Creative Industry: The latest on the new tax relief reforms

In the 2023 Autumn Statement, the Chancellor announced reforms to modernise the creative tax relief system by introducing a new Audio-Visual Expenditure Credit (AVEC) and Video Games Expenditure Credit (VGEC).

Further measures were announced in the 2024 Budget totalling over £1 billion of additional tax reliefs. These announcements aim to boost growth in the sector and ensure the reliefs remain sustainable.

What you need to know

Please click here to read our summary of the reforms.

How we can help

If you wish to discuss your options, please contact one of our senior tax team colleagues.