Jungle Tax Accountants to Certify AVEC: Your Trusted Partner for UK Creative Industry Tax Relief
The UK’s creative industry is evolving, and with it comes a significant change in tax incentives. The introduction of the Audio-Visual Expenditure Credit (AVEC) and the Video Games Expenditure Credit (VGEC) in 2024 replaces previous tax reliefs, offering enhanced benefits for film, television, animation, and video game production companies. As a leading accountancy firm specializing in the creative sector, Jungle Tax is proud to certify AVEC claims and help businesses navigate these new expenditure credits seamlessly.
AVEC is a new expenditure credit available for British qualifying films, high-end television (HETV), animation, and children’s television. It replaces the existing tax reliefs and provides more straightforward and generous benefits for production companies.
Under AVEC, companies can claim:
● 34% credit for film, high-end TV, and video games (previously 25.5%)
● 39% credit for animated TV, children’s TV, and animated films (previously 29.25%)
● 53% credit for lower-budget films (IFTC) that started production after April 2024 (previously 39.75%)
These changes make AVEC a game-changer for production companies looking to maximize their financial returns while ensuring compliance with UK tax regulations.
Why Choose Jungle Tax for AVEC Certification?
At Jungle Tax, we specialize in accountancy and tax services for creative businesses, ensuring efficient and compliant AVEC claims. Here’s why production companies trust us:
✅ Expertise in Creative Sector Taxation: With years of experience, we understand the nuances of film, TV, and video game financing and tax incentives.
✅ End-to-End Certification Support: We handle everything from eligibility assessment to final certification, reducing administrative burdens.
✅ Maximizing Your Claim: Our team ensures you maximize tax relief by identifying all eligible expenditures and structuring claims efficiently.
✅ Compliance & Risk Mitigation: We safeguard your claims against compliance risks, ensuring full alignment with HMRC guidelines.
Production companies looking to claim AVEC must:
● Pass the cultural test or qualify as an official co-production
● Have at least 10% of core expenditure incurred in the UK
● Be registered under the UK Corporation Tax system
● Ensure production is intended for theatrical release or broadcast
Additionally, Enhanced AVEC (IFTC) is available for lower-budget films meeting specific budget and creative connection criteria.
How Jungle Tax Can Help You Claim AVEC
Navigating new tax relief systems can be complex, but with Jungle Tax, you’re in expert hands. Our process includes:
1. Initial Consultation – Assessing eligibility and estimating potential credits.
2. Application Preparation – Compiling necessary documentation for HMRC approval.
3. Submission & Certification – Filing claims and obtaining AVEC certification.
4. Ongoing Support – Providing continuous guidance for future claims and compliance.
Act Now: Secure Your AVEC Benefits Today!
AVEC and VGEC claims are available from 1 January 2024, with all productions required to switch by 1 April 2027. Don’t wait – let Jungle Tax help you maximize your expenditure credits and ensure compliance.
📞 Contact Jungle Tax Today For expert guidance on AVEC certification, reach out to Jungle Tax at: 📧 Email: hello@jungletax.co.uk 📞 Phone: 0333 880 7974