Arts: Tax Allowances:Written question - 23413

Q
Asked by Julian Knight
(Solihull)
[N]
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Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 20 January 2016
HM Treasury
Arts: Tax Allowances
Commons
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.
A
Answered by: Mr David Gauke
Answered on: 28 January 2016

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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