On 3 December 2014, as part of his Autumn Statement, the UK Chancellor announced the introduction of a new children’s TV tax relief which is due to be introduced from April 2015.
As with the existing tax credit for high-end TV and animation, eligible companies will be able to claim 25% of qualifying production expenditure. It is anticipated that the legislation implementing the new tax relief will largely follow that of the existing creative sector reliefs, such as for high-end TV. Therefore, in order to be eligible, the production would need to pass a cultural test or be an official co-production, and be intended for broadcast (including via the internet).
It was also announced that the government will explore the possibility of reducing the minimum UK expenditure requirement from 25% to 10% and updating the cultural test for the high-end TV tax relief in order to bring it in line with the recently amended film tax credit.
A proposed consultation on introducing a new orchestra tax relief in April 2016 was also announced – the consultation is due to open in early 2015.