Viewing Posts from November 2017

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Fantastic News!!!!

  Thursday, March 7, 2024

The government has just announced that the temporary higher rates of theatre, orchestra, and museums and galleries tax reliefs won't, as planned, return to pre-Covid levels after the 31st March 2025.  New and permanently higher rates will be introduced from the 1st April 2025.  The new rates will be:  - 45% for OTR; TTR - touring and MGETR - touring, and - 40% for TTR - non-touring and MGETR - non-touring.   Full details can be found here: Spring Budget 2024  

HMRC's new mandatory information form

  Friday, December 1, 2023

As part of HMRC's changes to the Creative Industry tax reliefs, all claims will need to be supported by the completion of an online mandatory information form from 1st April 2024.  Failure to do so will invalidate the claim and result in non-payment.  We will obviously complete this on behalf of clients and will ensure as smooth a transition to the new process as possible.    

Proposed reform of the Animation, Film, Television and Video Games tax reliefs

  Thursday, January 5, 2023

HM Treasury has issued a consultation document into proposed changes to the Animation, Film, Television and Video Games tax reliefs. HMRC has effectively split the 8 Creative industry tax reliefs into 2 subsets: 1. The Audio Visual tax reliefs - Animation, Film, Television and Video Games tax reliefs, and 2. The Cultural tax reliefs - Museum and Galleries, Orchestra and Theatre tax reliefs   These proposed changes, at least for the moment, apply only to the Audio Visual tax reliefs. The consultation docum.....Read More

Celebrating our 5-year anniversary!

  Friday, April 1, 2022

  It is now 5 years since the company started and during that time, we have claimed over £9 million of Creative Industry tax credits for our clients. It is a huge pleasure and privilege working with all our clients and we look forward to working with them in the future.

When does the production phase begin?

  Tuesday, December 14, 2021

Read a  summary of what HMRC considers to be the commencement of the production phase and therefore whether a production is potentially in scope of the rate uplift introduced by Autumn Budget 2021 Link to HMRC Guidance

Some good news!

  Thursday, October 28, 2021

The Chancellor announced yesterday in the 2021 Autumn Budget that the rates of surrender for Theatre, Orchestra and Museums and Galleries tax credits will be increased from the 27th October 2021 onwards.  The new rates will be tiered and return to normal from 1st April 2024 onwards.  More information can be found in HMRC's Policy Paper entitled 'Cultural Relief Rate Rises for Theatre, Orchestra, and Museums and Galleries Exhibition Tax reliefs' - see link: HMRC's Policy Paper Photo: HM Treasury  .....Read More

XERO certified

  Wednesday, March 10, 2021

Pleased to announce that we are now XERO certified 

We have now claimed over £5 million of Creative Industry tax credits for our clients

  Thursday, January 21, 2021

We have now claimed over £5 million of Creative Industry tax credits for our clients. Our clients include theatre companies large and small, from National Portfolio Organisations with Arts Council England through to local amateur operatic and dramatic societies, commercial and charitable orchestras, video games developers, animation producers, film producers and more recently museums.   It is a huge pleasure and privilege working with all our clients and we look forward to working with them in the future.

We are delighted to welcome Neil to the team

  Friday, January 1, 2021

Creative Tax Reliefs are delighted to welcome Neil Adshead FCA to the team.  Neil is a Chartered Accountant with over 30 years experience, both in practice and with HMRC.  He specialises in working with creative companies and is available to assist with:    -          Preparation and certification of annual accounts -          Independent Examination -          Ac.....Read More

We are delighted to welcome Colm to the team

  Sunday, November 1, 2020

Creative Tax Reliefs are delighted to welcome Colm Seeley to the team.  Colm was VGTR Certification Analyst at the BFI for over 6 years and now supports creative companies through the BFI Certification process.  Find out more about Colm via the Our Team page.  Colm can be contacted at: [email protected]    

Introducing SME R&D

  Saturday, October 31, 2020

Research & Development tax relief In April 2000 Research & Development tax relief was introduced for Small and Medium-sized Enterprises. For Large Companies, the Research and Development Expenditure Credit (RDEC) was introduced in April 2013 and has now replaced the previously existing Large scheme. The relief is processed through the corporation tax system and can be claimed by companies that are undertaking qualifying research and development (R&D). How does R&D tax relief work? R&D tax relief.....Read More

We are delighted to become a member of Game Republic

  Wednesday, June 10, 2020

We are delighted to join Game Republic as an affiliate member.  Game Republic is the largest industry-led games business network in the North of England. The network supports and promotes the Yorkshire and Northern England games industry and is backed by more than two decades of games industry experience from Managing Director Jamie Sefton and 20 years of project, research and events industry experience from Jackie Mulligan. More information about Game Republic can be found via its website: https://gamerepubli.....Read More

New factsheets

  Monday, February 3, 2020

All new factsheets are available.  If you would like to download one of our free fact sheets - click here.

See our article in Accountancy Age

  Wednesday, January 1, 2020

It's always a pleasure to spread the news about the Creative Industry tax reliefs and to encourage companies to claim:  https://www.accountancyage.com/2020/02/21/are-your-clients-claiming-their-creative-industry-tax-reliefs/  

We are delighted to be working with Counterculture Partnership LLP – recently named as a Leading Firm by The Legal 500 for their work in the Charity and Media and Entertainment sectors

  Sunday, February 24, 2019

We are delighted to be working with Counterculture Partnership LLP – recently named as a Leading Firm by The Legal 500 for their work in the Charity and Media and Entertainment sectors.  Keith Arrowsmith, a partner at Counterculture Partnership LLP, provided advice and support to one of our theatre clients who wished to move from a charitable trust to a CIO in order to access Theatre Tax Relief.  Our clients loved working with Keith and described him as 'awesome'.  For more information  see&nbs.....Read More

It's a fact....sheet

  Thursday, February 14, 2019

See our factsheets on Theatre Tax Relief prepared for NODA at https://www.noda.org.uk/factsheets (members only) and House Theatre Network at: http://housetheatre.org.uk/wp-content/uploads/2018/07/Theatre-Tax-Reliefs-Resource.pdf (available to all).

We are proud to be featured in November's issue of Sardines Magazine

  Wednesday, November 7, 2018

So proud to be featured in Sardines Magazine discussing how theatre companies can claim Theatre Tax Credits (pages 16 and 17).  Proud also to be working with NODA (https://www.noda.org.uk/factsheets) and House (http://housetheatre.org.uk/wp-content/uploads/2018/07/Theatre-Tax-Reliefs-Resource.pdf).      We look forward to helping theatre companies, professional or amateur, commercial or charitable claim their Theatre Tax Credits. 

HMRC releases Orchestra Tax Relief manual

  Thursday, May 18, 2017

HMRC has released the Orchestra Tax Relief manual - which can be found here

Creative Tax Reliefs Limited

  Monday, April 3, 2017

A consultancy created solely to help qualifying companies in the theatre, video games, film, television, animation, orchestra and museum and gallery sectors claim their tax credits.      

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"Worth every penny"
Mary Nri - Finance Director of The Albany
"Graham has been extremely helpful in providing OTR advice when it came to tweaking the calculations of our claims. We have also had to call on his advice for several unusual situations, including making a TTR claim, and it gives us piece of mind to know we are proceeding within the guidelines. He is always quick to respond and happy to arrange a meeting if it’s needed. He deals with our submissions to HMRC and we feel like we are in safe hands."
Fran Davies - Finance Manager of the London Symphony Orchestra
"I am delighted to recommend Graham and his team at Creative Tax Reliefs. We were introduced to Graham as we hadn’t claimed before and were fortunate to be able to backdate several claims which provided an unexpected and very welcome windfall. We are always impressed by the level of attention and detail that Graham and his team give us and they are always happy to answer our questions and provide guidance. "
Helen Wills - General Manager of the Early Opera Company
"I found Graham and Creative Tax Reliefs through a Google search as we had a client that was eligible for Theatre Tax Relief (TTR). I and a colleague had read through HMRC’s guidance a number of times and felt confident that we understood how it worked, however, we had no experience in claiming TTR. It seemed a no-brainer to work with Graham because Graham, as a former Creative Tax Reliefs specialist with HMRC, knew how to prepare and present claims to HMRC, would be certain of the calculations, knew where the boundaries were and would achieve maximum benefit for the client. We prepared the accounts and submitted the CT600 as per usual with input from Graham whilst he liaised directly with HMRC’s Creative Industries Unit in respect of the client’s TTR claim. The client received their tax credit without issue and in an amount greater than expected. Our client was delighted as were we and we look forward to working with Graham going forward. "
Ian Bragger, Partner at Harris & Co (https://www.harrisaccounts.co.uk/)
"I am so pleased and relieved that Graham got in touch with me about Theatre Tax Relief. I had mistakenly thought that we were not eligible but so far Graham has claimed nearly £100,000 in tax credit for us. This is not only an enormous benefit and can be ploughed back into the work that we do but it would have been extremely short-sighted of us not to be claiming the money that is due to us. Graham has made the whole process so simple and easy. I cannot recommend him highly enough"
Sarah Gobran, Co-Founder & Producer of The Guildford Shakespeare Company (https://www.guildford-shakespeare-company.co.uk)
"NCO engaged Graham at the start of 2019 and has developed a wholly positive and ongoing relationship ever since. Not only has Graham increased our understanding of OTR and how it applies to NCO, he has taken all the stress and strain away from the process. His previous experience as a tax specialist at HMRC has proved invaluable as has his ability to explain the complexities to us in a way we can understand! I cannot recommend Graham more highly. "
Sophie Lewis, Managing Director of the National Children's Orchestras of Great Britain (https://www.nco.org.uk)
"Our accountant struggled with VGTR so we engaged Graham and his company. Graham prepared all the necessary computations and submitted the claim on our behalf. This was paid by HMRC without question and in an amount in excess of what we had previously expected. We are delighted and cannot recommend Graham or his company highly enough"
Ashley Stancill, Director at HyperSloth Games (https://www.hypersloth.co.uk)
"It was a pleasure working with Graham on our claim for Film Tax Credit for Stuffed. For independent creators working in Film and TV, the Tax Credit is a vital part of making your film a reality. Graham is an assured and calm voice in the often-intimidating world of tax. I’d highly recommend Graham to my colleagues working in Film and TV. "
Carys Lewis, writer and director of the 2019 BAFTA Cymru Nominee short film Stuffed (http://www.caryslewis.ca/)
"I was recommended Graham and Creative Tax Reliefs by a colleague and I cannot recommend their services more highly. Graham took me through what Theatre Tax relief was, how it worked and what was eligible, and was very patient with my questions and the need to be gently spoon fed the information! Creative Tax Reliefs also worked on our end of year accounts, and the Accountant Neil was also wonderful and clear at taking me through every step, as this was our first production and end of year accounts as a company. I look forward to working with Graham and his team again! "
Rose Hall, Co-Director of Palmer & Hall Music (www.deadequal.com)
"Graham explained very clearly what was needed and then delivered exactly as he said he would. Graham prepared the computations and submitted the claims on our behalf and we didn't have to deal with HMRC at all. This was the easiest piece of tax work that we have ever had to do"
Matthew Quirk of The Merry Opera Company (https://www.merryopera.co.uk)
"With no clear guidance on how to claim Theatre Tax Relief and after spending a considerable amount of time consulting with colleagues, accountants, reading huge, incomprehensible HMRC guidelines and generally worrying that the company was missing the TTR boat, I spoke to Graham. Everything was plain sailing for us after the initial consultation – with very little effort on our part, Graham made a successful submission and we have just received a substantial payment. I am delighted at the outcome and have no hesitation in recommending Graham and his company"
Sue Andrews, former Executive Director of Northern Broadsides Theatre Company (https://www.northern-broadsides.co.uk)
"It was a pleasure to work with Graham. He explained the process very clearly, prepared all the necessary computations and submitted the claims on our behalf. We are extremely delighted with the outcome and have no hesitation whatsoever in recommending Graham and his Company to others"
Sylvia Collins of the Huddersfield Light Opera Company
"I have been aware of Theatre Tax Relief for a few years now but the process of claiming the money was daunting. We didn't have the resources or the expertise to make the claim. Graham made the process of claiming Theatre Tax Relief very straight forward. He kept me informed of developments and answered all my questions. I provided him with information and he did the rest"
Shona Rattray, General Manager of the Hopscotch Theatre Company (https://www.hopscotchtheatre.com)
"Thanks so much Graham! You and Creative Tax Reliefs are the best. "
Ellie Claughton, Producer with Lung Theatre (http://lungtheatre.co.uk) and Barrel Organ (https://www.barrelorgantheatre.co.uk)
"For a small theatre company like us navigating Theatre Tax Relief was a daunting prospect. Having the support and expertise of Creative Tax Reliefs was absolutely brilliant. Graham explained everything and did a fantastic job sorting out the different projects we had been working on, calculated what we could claim and did all the leg work. The Tax Relief we received from HMRC helped us take our show to the Edinburgh Fringe, something we certainly couldn't have done without this extra funding. We would highly recommend Creative Tax Reliefs and will certainly be using them again in the future. "
Jasmine Cole of Jasmine Cole Productions
"When I first heard from Graham I have to say I was more than a little sceptical. Why had no one mentioned this to us before? The information seemed so monumental – shouldn’t it have been on the news? Within a few emails and phone conversations, we had provided all the information necessary and had everything thoroughly explained to us. Within two weeks we had received the tax credit into our bank account! Creative Tax Reliefs are amazing!"
Clare Molyneux, Artistic Director of Open The Door (Theatre in Education) C.I.C.
"When Graham first contacted us, we hadn’t heard of Theatre Tax Relief, which made us fairly wary. Graham took the time and care to explain it all to us and how the process would work. Initially, we were sceptical and worried about the time it would take for us to collate all the information needed for the claim. However, we needn’t have worried, Graham helped us every step of the way and made the process simple and quick. We would recommend working with Graham in an instant."
Fliss Green, Senior Strategy & Project Manager of Chain Reaction Theatre Company (https://www.chainreactiontheatre.co.uk)

CREATIVE TAX RELIEF UPDATES

 


Fantastic News!!!!
Fantastic News!!!!
Posted 07/03/2024

The government has just announced that the temporary higher rates of theatre, or.....Read More

HMRC's new mandatory information form
HMRC's new mandatory information form
Posted 01/12/2023

As part of HMRC's changes to the Creative Industry tax reliefs, all claims will .....Read More

Proposed reform of the Animation, Film, Television and Video Games tax reliefs
Proposed reform of the Animation, Film, Television and Video Games tax reliefs
Posted 05/01/2023

HM Treasury has issued a consultation document into proposed changes to the Anim.....Read More

Celebrating our 5-year anniversary!
Celebrating our 5-year anniversary!
Posted 01/04/2022

  It is now 5 years since the company started and during that time, we hav.....Read More

 

 

 

 

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