Andrew has welcomed HM Treasury’s modernisation of tax relief for creative media in the Finance Bill which is currently making its way through Parliament. He hopes it will help to grow tech and creative industries in his South West Wiltshire constituency, the basis of his TechTrowbridge campaign in the county town’s travel to work area.
The Bill makes a series of changes to how tax relief is changed for video games, films, high-end TV, animated TV, children’s TV and cultural venues.
Companies will be able to make simplified claims made for new expenditure credits: the Audio-Visual Expenditure Credit (AVEC) and the Video Games Expenditure Credit (VGEC), Theatre Tax Relief (TTR), Orchestra Tax Relief (OTR) and Museums and Galleries Exhibition Tax Relief (MGETR).
‘Well done Chancellor for simplifying tax relief for creative media, making it easier for innovators to work their magic. Wiltshire boasts a thriving creative scene with local links to the National Theatre and a growing tech cluster. My TechTrowbridge campaign to grow this exciting cluster locally and bring a touch of Silicon Valley to our area warmly embraces these measures.'