Thomas O’Malley
I trained in Latham & Watkins London office, working on a variety of matters across different practice areas, including tax, data and technology transactions, finance, and competition.
I am an associate in the Tax Department of Latham & Watkins’ London office.
1 Contributions by Thomas O’Malley
PRACTICE NOTES
UK film and television tax reliefs (CTA 2009 Part 15): eligibility, cultural tests and credit calculations; transitional rules for productions before 1 April 2025, claims allowed until 31 March 2027
ARCHIVED :
This Practice Note is archived and not maintained. It gives guidance on tax reliefs available to British films and television programmes made or in development before 1 April 2025. From 1 January 2024, a new tax credit, the audiovisual expenditure credit (AVEC), replaced the prior regime. Productions made, or still in development, before 1 April 2025 can continue to claim the old reliefs until 31 March 2027. New productions beginning on or after 1 April 2025 can claim only AVEC. This Note focuses on the former scheme, not AVEC; for AVEC, see Practice Note: The UK film and television audiovisual expenditure credit scheme. In the UK, creative sector tax reliefs under the Corporation Tax Act 2009 (CTA 2009) apply to British films and television programmes.
This Practice Note covers:
the creative sector tax reliefs introduced by the Finance Act 2014;
treating film and television as British;
qualifying as a UK production company;
calculating relief (with example computations);
cultural tests; and
tax credit calculations (including the golden points rule and...
TMT
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