Want to provide feedback on the upcoming creative sector tax reliefs?

HM Treasury has now published a consultation document on the corporation tax relief that has been proposed for these sectors.

The new reliefs will apply from 1st April 2013, subject to state aid approval, and are currently based on the existing film tax relief.

In broad terms, if you spend on "Qualifying expenses", extra tax relief will be given to reduce taxable profits or money paid back to you if you have losses.

It is intended that a number of detailed conditions will need to be met before this tax relief is given.

If you want to have your say on this future tax relief, follow this link to the HM Treasury website:

http://www.hm-treasury.gov.uk/consult_creative_sector_tax_reliefs.htm

Cardens will provide a detailed analysis on this new and important tax relief for the creative sector once it becomes law and to help you establish if you can apply for it.

Keith Hall
01273 739592
keith@cardens4u.co.uk
www.cardensaccountants.co.uk

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