The UK’s 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 government’s plan to grow the economy.
The new tax changes announced in July 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%. This also follows the Creative Industries Sector Vision published last month which set an ambition to grow the creative industries by an extra £50 billion by 2030.
These changes are a key part of the government’s plan to get the economy growing and make the UK the best place in the world to start and grow a business.
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