Creative sector tax reliefs surge in 2022-23

A total of £2.2bn was paid in creative industries tax reliefs for the year to 31 March 2023 – a 16% increase from the previous year (£1.9bn) according to HMRC statistics.

HMRC says this was largely due to a rise in the amount of high-end television (HETV) tax relief paid which accounted for about half of the total paid. There were 615 claims made for this relief in 2022-23 resulting in relief of £1 107m. This is an increase of 13% from the previous year and has been driven by an increase in high-budget productions.

There were 895 claims made for film tax relief in 2022-23 worth £553m of relief. This is a 6% increase in the amount of relief paid compared with the previous year. HMRC notes that film tax relief claims have increased but have not yet reached pre-Covid levels. This is partly...