CREC010900 - Overview and definitions: legislation
The Audio-Visual Expenditure Credit (AVEC) and听Video Games Expenditure Credit (VGEC) were introduced in听Finance Act 2024 (FA24). The provisions now form 听(CTA09), covering:听
Chapter 1: Introduction and Interpretation听
Chapter 2: Special Rules About Taxation听
Chapter 3: Expenditure Credit听
Chapter 4: Films and Television Programmes听
Chapter 5: Video Games听
Part 14A replaces Parts 15 to 15B of CTA09, which contain听the old tax reliefs for film, television听and video games.听
The old reliefs are closed to new productions from 1 April 2025 and cease entirely from 1 April 2027.听Please see Chapter 9 of this manual for details of the commencement of Part 14A and the transition period between the old reliefs and the expenditure credits.