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Navigating the changes to the creative industry tax incentives

Alliotts Media advisors help producers to navigate seismic changes to the tax regime with confidence.

13 May 2024

On Wednesday 8th May our media team hosted an event in collaboration with The Producers Collective UK and Producers Anonymous that brought together nearly 60 producers, both in person and online, to delve into the seismic changes reshaping creative industry tax incentives. With a shared commitment to navigating these changes effectively we’ll look at the highlights and reflect on the insights.

As the creative industry evolves, keeping up to date with tax incentives is crucial for producers aiming to optimise their projects’ financial viability. Recognising this, we were delighted to be asked by The Producers Collective UK and Producers Anonymous to share our knowledge of the technical detail of the changes to the incentives. 

Central to the event was a presentation from Alliotts’ Media sector specialist Samuel Ampah who is well-versed in the intricacies of creative industry tax incentives. He went through the changes and their implications whilst offering strategic guidance and practical guidance. From enhanced tax credits to the planned new eligibility criteria, every facet was explored with clarity and depth. There is still a degree of uncertainty as the sector and its advisors wait for the announced changes to be ratified in the Finance Act this Summer.

Throughout the presentation producers asked questions on how the changes will work in practice. After the presentation guests networked, exchanging thoughts and ideas and fostering a sense of camaraderie within the community.

As the event drew to a close, key takeaways emerged. Firstly, adaptability is paramount in navigating the ever-shifting landscape of tax incentives. Secondly, collaboration and knowledge-sharing are invaluable assets for producers seeking to thrive in a competitive environment. Finally, staying informed and proactive is essential for capitalising on emerging opportunities.

As we reflect on the success of the event, we’re energised by the possibilities that lie ahead for the creative industries. Producers are now poised to embrace change, seize opportunities, and drive innovation within their sector. We’re committed to continuing this journey together, helping producers to navigate seismic changes to the tax regime with confidence.

Hosting this event was a testament to the power of community, collaboration, and continuous learning. As the creative industry faces the changes to the tax regime, events like these help to inform and guide.

View or download our summary of the creative industry tax incentives

Samuel Ampah

 

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