Arts: Tax Allowances

HM Treasury written question – answered on 28th January 2016.

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Photo of Julian Knight Julian Knight Conservative, Solihull

To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the effect of the Government's tax reliefs on (a) the film and (b) other creative industries.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

Creative sector tax reliefs play an important role in stimulating investment in an industry that employs 1.8 million people and provides world-class cultural experiences to many more.

HM Revenue and Customs published official statistics in December 2015 showing that a record 220 films claimed the film tax credit in 2014-15, with the relief supporting over £1bn worth of UK expenditure in the sector.

Since the reliefs came into force in 2013-14, the high-end TV tax relief has supported almost £600m of expenditure in the industry and the animation tax relief has supported £68 million. Official statistics for the creative sector tax reliefs can be found here: https://www.gov.uk/government/statistics/creative-industries-statistics-december-2015

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