Ministers reveals new plans to boost animated film productions in the UK
Animated film productions in the UK are set for a boost as the government reveals increased tax relief, to take effect from 1 January 2024.
The creative industry has grown at more than 1.5 times the rate of the wider economy over the past decade, making it an important sector for the Chancellor’s plan to grow the economy. The new tax changes announced today are expected to be worth £5 million each year to business and come alongside the Audio-Visual Expenditure Credit which was uplifted at budget from 33.33% to 39%.