• April 2017

    ThuFriSatSunMonTueWedTax week
    --1   2   3   4   5   52
    6   7   8   9   1011121
    131415161718192
    202122232425263
    27282930---4
    • 6th - Start of 2017-2018 tax year
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 14th - Easter Friday (E,W,NI,S)
    • 17th - Easter Monday (E,W,NI)
  • May 2017

    ThuFriSatSunMonTueWedTax week
    ----1   2   3   4
    4   5   6   7   8   9   105
    111213141516176
    181920212223247
    252627282930318
    • 1st - May Bank Holiday (E,W,NI,S)
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 29th - Spring Bank Holiday (E,W,NI,S)
    • 31st - Employee P60s due
  • June 2017

    ThuFriSatSunMonTueWedTax week
    1   2   3   4   5   6   7   9
    8   9   101112131410
    1516171819202111
    2223242526272812
    2930-----13
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
  • July 2017

    ThuFriSatSunMonTueWedTax week
    --1   2   3   4   5   13
    6   7   8   9   10111214
    1314151617181915
    2021222324252616
    2728293031--17
    • 6th - Forms P11D, P11D(b) and P9D due
    • 6th - Form 42 Due
    • 12th - Battle of the Boyne - Bank Holiday (NI)
    • 19th - HMRC cheque payments due
    • 19th - Payment of 2016/17 Class 1A NIC due
    • 22nd - HMRC BACS payments due
    • 31st - Payment of 2016/17 Class 2 NIC due
  • August 2017

    ThuFriSatSunMonTueWedTax week
    -----1   2   17
    3   4   5   6   7   8   9   18
    1011121314151619
    1718192021222320
    2425262728293021
    31------22
    • 7th - Summer Bank Holiday (S)
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 28th - Summer Bank Holiday (E,W,NI)
  • September 2017

    ThuFriSatSunMonTueWedTax week
    -1   2   3   4   5   6   22
    7   8   9   1011121323
    1415161718192024
    2122232425262725
    282930----26
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
  • October 2017

    ThuFriSatSunMonTueWedTax week
    ---1   2   3   4   26
    5   6   7   8   9   101127
    1213141516171828
    1920212223242529
    262728293031-30
    • 5th - Personal Income Tax Statement
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 31st - Paper Self Assessment Tax Return Deadline
  • November 2017

    ThuFriSatSunMonTueWedTax week
    ------1   30
    2   3   4   5   6   7   8   31
    9   10111213141532
    1617181920212233
    2324252627282934
    30------35
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 30th - St. Andrew's Day (S)
  • December 2017

    ThuFriSatSunMonTueWedTax week
    -1   2   3   4   5   6   35
    7   8   9   1011121336
    1415161718192037
    2122232425262738
    28293031---39
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 25th - Christmas Day
    • 26th - Boxing Day
  • January 2018

    ThuFriSatSunMonTueWedTax week
    ----1   2   3   39
    4   5   6   7   8   9   1040
    1112131415161741
    1819202122232442
    2526272829303143
    • 1st - New Year's Day
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
    • 31st - Online Self Assessment Tax Return Due
  • February 2018

    ThuFriSatSunMonTueWedTax week
    1   2   3   4   5   6   7   44
    8   9   101112131445
    1516171819202146
    2223242526272847
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
  • March 2018

    ThuFriSatSunMonTueWedTax week
    1   2   3   4   5   6   7   48
    8   9   101112131449
    1516171819202150
    2223242526272851
    293031----52
    • 17th - St. Patrick's Day (NI)
    • 19th - HMRC cheque payments due
    • 22nd - HMRC BACS payments due
UK Tax Week

   22 Jun - 28 Jun

21

 
 

UK Creative Industries Tax Reliefs - High-End Television

No comments

Summary

Having attended the British Film Institute launch of the UK high-end TV and animation tax relief at BAFTA in 2013, Laurence Sargent, Director of Sargent Disc welcomed the 2015 reduction to the minimum spend requirements 'The enhancement to the High-End Television and Animation tax relief is a positive development for the UK creative industries. The impact of tax relief for these sectors has been substantial - with levels of high-end television and animation production increasing and providing growth opportunities across the production value chain' 

Tagged: Payroll, Production Accounting, SD Online, Accounting

New UK creative industries tax reliefs

High-End Television and Animation

 

Following the success of the UK Film tax relief system introduced in 2007, the UK Government launched similar incentives for high-end TV (HETV) and animation in 2013. These benefits were enhanced in April 2015 to include:

  • a reduction in the level of minimum UK expenditure from 25% to 10%
  • the modernisation of the cultural test for High-end Television Tax Relief

Prior to the availability of the HETV tax credit, some high-budget TV productions chose to film abroad to lower production costs. Since then 152 domestic, inward investment and co-productions accessed the HETV tax credit and generated a production spend of £1.15 billion (July 2013 - June 2015) [1] . A recent report shows that every £1 given by the UK government in HETV tax relief returns £8.31p to the UK economy.[2] 

 

The Requirements

The following rules apply in order to access UK high-end television tax relief:

  • The production must qualify as British (see more below)
  • The programme must be intended for broadcast (this includes the internet)
  • The programme is a drama, comedy or documentary
  • At least 10% of the core expenditure must take place in the UK
  • The average qualifying production costs per hour of production length is not less than £1million per hour (Pro rata)
  • The programme slot length must be greater than 30 minutes.
  • The television production company (TPC) responsible for the programme must be within the UK corporation tax net.

 

British Qualification

To qualify as British the production must either pass the High-End Television Cultural Test or be an official UK co-production. The UK has treaties with Australia, Canada, France, Israel, New Zealand, or the occupied Palestinian Territories. 

Section

Cultural Test

Points

A

Cultural Content

A1

High-end TV production set in the UK or EEA

up to 4

A2

Three lead characters are British or EEA citizens or residents

Up to 4

A3

The programme is based on British or EEA subject matter or underlying material

4

A4

Original dialogue recorded mainly in English language

Up to 6

B

Creativity, Heritage and Diversity

B

The production represents British creativity, British heritage and diversity.

up to 4

C

Where Work is Carried Out

C1

a) & b) At least 50% of the principal photography, SFX or VFX takes place in the UK

c) 80% of either principle photography, SFX or VFX takes place in the UK

 

2

 

2

C2

At least 50% of the music recording or audio post-production or picture post-production takes place in the UK

1

D

Personnel Involved in the Making of the Production

D1

1 of the 3 lead directors is an EEA citizen or resident

1

D2

1 of the 3 lead scriptwriters is an EEA citizen or resident

1

D3

1 of the 3 lead producers is an EEA citizen or resident

1

D4

1 of the 3 lead composers is an EEA citizen or resident

1

D5

1 of the 3 lead actors (or participants in the case of a documentary)is an EEA citizen or resident

1

D6

At least 50% of the cast are EEA or residents

1

D7

At least 1 of the 7 key HoDs is an EEA citizen or resident

1

D8

At least 50% of the crew are EEA citizens or residents

1

All sections

Pass Mark 18/35

Total Points 35

 

This test is very similar to its Film Tax Relief equivalent.

18 points out of a possible 35 must be gained in order to pass the test.

 

Value of the relief

The tax relief is paid to the TPC and is calculated as a percentage of qualifying UK expenditure.

  • Rate of relief is set at 25% (up to a maximum of 80% of the company's qualifying core expenditure on programme production).
  • The same applies to Animation (productions with content that have at least 51% core expenditure on animation).

 

How can Sargent-Disc help?

Sargent-Disc can provide a range of services to a production, from pre-production through to post. For information about our services, please contact us at Sargent-Disc. Let us help you with your production and employment enquiries about working in the UK, and take the drama out of your production. Our services include:

Budgeting
Movie Magic Budgeting and Scheduling software
Production software training
Production and post production accounting
Payroll services
Production card

 

Movie Magic Budgeting

Industry standard software is available to help when putting together a budget. Movie Magic Budgeting 7 , for example, has been designed to assist with complex budgeting scenarios. It allows for elements to be pulled through from Movie Magic Scheduling, helping to save time and ensure accuracy. It also allows for multiple incentives, credits, and rebates to be applied, compared, and analysed.

 

Advisors

For advice, guidance and facts about international production incentives, and to compare them online, visit the incentive solutions section of the Entertainment Partners website or contact them directly here:

EP Financial Solutions
Joseph Chianese, Senior Vice President
Tel: 818.955.6242
Email: jchianese@entertainmentpartners.com

There are also a number of specialist accountancy and audit firms in the UK that advise clients when structuring British qualifying films. Here are just a few:

Grant Thornton UK LLP
Christine Corner, Partner
Tel: +44 (0)20 7728 3171
Email: christine.corner@uk.gt.com

Saffery Champness
John Graydon, Partner
Tel: +44 (0)20 7841 4281
Email: john.graydon@saffery.com

Shipleys LLP
Steve Joberns, Principal
Tel: +44 (0)20 7312 6558
Email: jobernss@shipleys.com

 

Please Note: This article is for information purposes only.

 

No comments