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| UK VFX tax credit uplift starts on Jan 1st 2025 |
On 30 October 2024 the Chancellor of the Exchequer confirmed an increased tax incentive for spending on visual effects (“VFX”) in the UK - which has been warmly welcomed by the UK’s VFX industry.
From Jan 1st 2025, VFX spending in the UK will attract a net rebate of 29.25% and would be exempt from the overall 80% cap on spending eligible for film and TV tax relief.
