New figures reveal how much Britain's creative and art sectors have benefitted from tax reliefs
Britain’s celebrated and world-leading creative and arts sectors have flourished in the last year thanks to £1.1 billion of support from Government, official statistics showed today.
The award-winning TV series Killing Eve and the critically acclaimed film Phantom Thread are among the productions to have benefited from High-End TV and Film Tax Reliefs respectively.
Since these tax reliefs were introduced, 2,955 films, 485 TV productions and 1,075 videogames have benefited and, for the first time, museums and galleries exhibition tax relief has helped to showcase 300 exhibitions across the UK.
In 2016, the screen sector contributed almost £8 billion to the UK economy. In 2016, the film sector alone contributed over £1.71 billion of UK exports.
Jesse Norman, Financial Secretary to the Treasury, said:
Creative Sector Tax Reliefs were introduced to help UK businesses in these highly skilled and innovative sectors thrive at home and abroad. The reliefs support jobs and economic activity in all parts of the UK.
Amanda Nevill, CEO at the BFI, which administers cultural tests for the screen sector tax reliefs, said:
Additional Information
Full annual tax relief statistics available here.