Theatre and orchestra production companies benefit from a tax credit regime to support the development of their work. The special company tax reliefs provide a doubling of the tax deduction for certain expenditure. In the event of a loss, it may be ‘surrendered’ in return for a ‘payable tax credit’ from HMRC, at the rate of 25%.
Given Shipleys’ specialism in TV and film – particularly in the field of tax credits – we also help others in the creative industries to make the most of the current relief regimes. Not only are the schemes very similar, they are administered by the same people at HM Customs & Excise (HMRC).
How we help
We can help creative industry companies with issues such as:
- Planning and structuring companies to qualify for the tax credits
- Tax credit claims including assistance with certification as British
- Annual statutory accounts and audit where required
- Corporation tax compliance (returns, computations and payment) and planning
- Witholding tax
- Personal tax compliance and planning for the owners and senior staff
- Payroll and off payroll working (IR35)
- VAT compliance and planning
- Company secretarial support
- Business advice.
Can we help?
Please contact one of our creative industry specialists to find out how we can help you.