Government supports creative sector with £700 million of tax relief in 2016–17

The government has supported the UK creative sector with over £700 million of tax relief. This has included award-winning shows like Game of Thrones and The Crown and films including Lady Macbeth and Wonder Woman, as well as other mediums, from video games to theatre.

It's the fifth year since the government announced to increase its support for the creative sector. Creative Sector Tax Reliefs were introduced to help UK buinesses thrive in these sectors both in the UK and abroad. Over 2,070 films, 295 videogames and 205 high-end TV productions have benefited from the tax reliefs since their respective introductions. The figures also show for the first time that 1,750 theatres have benefited from the support available.

There are currently seven different reliefs available to the creative sector; film, high-end TV, animation, videogames, children’s TV, orchestra and theatre.

Creative Industries Minister Matt Hancock said:

"The UK’s creative industries are one of our biggest success stories. They play a vital role in shaping the UK’s image and reputation at home and abroad, and through initiatives like the tax relief scheme, we are creating the right environment for this dynamic sector to flourish and thrive.

Britain’s creative industries are growing faster than the rest of the economy and we want to keep it that way."

 

Image by Michael D Beckwith. Taken from the Department for Digital, Culture, Media & Sport (DCMS) blog.

 

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