The ICAEW have responded to HM Treasury’s consultation concerning the proposed merger of five audio-visual tax reliefs and altering the mechanism by which businesses claim relief to an “above the line” taxable credit.
The five audio visual (AV) reliefs under discussion are:
- film tax relief (FTR);
- animation tax relief (ATR);
- high-end TV tax relief (HETV tax relief);
- children’s TV tax relief (CTR); and
- video games tax relief (VGTR).