UK Contractor Accountant – Tax Relief For Creative Technology Businesses
UK contractor accountant can help you claim tax relief if you work in any type of creative business, no matter whether you create video games or you work in animation. We are going to take a look at tax relief for a number of different businesses below.
So, let’s begin with Video Games Tax Relief. You will be eligible for this type of relief if your video game is intended for supply and it is British. It also needs to have a minimum of 25 per cent of core expenditure incurred on services or goods that are provided from within the European Economic Area. Core expenditure includes the likes of both pre and post-development and principal photography. You may also be able to pay less Corporation Tax if you work in high-end television. You will be eligible for High-end Television Tax Relief on a TV programme if the slot length in regards to the programme is more than 30 minutes. The mean qualifying production expenses for each hour of production length must be not less than £1 million and at least ten per cent of total production expenses relate to UK activities. The programme must be a documentary, comedy or drama, and it must be meant for broadcast. Finally, tax Animation Tax Relief is available on a programme if at least ten per cent of complete production expenses relate to activities in the UK. Additionally, a minimum of 51 per cent of the full core expenditure must be on animation, and the programme planned for broadcast.
No matter what type of business you run, if you are looking for a UK contractor accountant, you can rely on AMG Financial Chartered Tax Advisers & Accountants. We are a leading tax return accountant in the UK, and we can handle your contractor accounts for you. To find out more about our business, visit https://amgfinancial.co.uk.