|
Creative Sector Tax Relief
Creative Sector Tax Relief is a programme of tax incentives implemented in the United Kingdom in 2012 which encompass new incentives aimed at supporting the animation, high-end television and video game industries, in addition to the existing relief available for film production. The new reliefs are designed to promote culturally-relevant productions in the UK, to incentivise investment into UK productions that would otherwise take place outside the UK, and to support the necessary critical mass of infrastructure and skills in the UK for both today and in the longer term. History The government announced in the March 2012 Budget that it would introduce corporation tax reliefs from April 2013 for the video game, animation and high-end television industries, subject to State aid approval and following consultation. These new reliefs were confirmed in Budget 2013 and the draft Finance Bill 2013. Up to this point, the creative industries had struggled to access existing Technology Tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Incentive
A tax incentive is an aspect of a government's taxation policy designed to incentivize or encourage a particular economic activity by reducing tax payments. Tax incentives can have both positive and negative impacts on an economy. Among the positive benefits, if implemented and designed properly, tax incentives can attract investment to a country. Other benefits of tax incentives include increased employment, higher number of capital transfers, research and technology development, and also improvement to less developed areas. Though it is difficult to estimate the effects of tax incentives, they can, if done properly, raise the overall economic welfare through increasing economic growth and government tax revenue (after the expiration of the tax holiday/incentive period). However, tax incentive can cause negative effects on a government's financial condition, among other negative effects, if they are not properly designed and implemented. There are four typical costs to tax incen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patent Box
A patent box is a special very low corporate tax regime used by several countries to incentivise research and development by taxing patent revenues differently from other commercial revenues. It is also known as intellectual property box regime, innovation box or IP box. Patent boxes have also been used as base erosion and profit shifting (BEPS) tools, to avoid corporate taxes. History In the early 1970s Ireland introduced the first scheme in its Corporation Tax. Section 34 of the 1973 Finance Act allowed total tax relief in respect of royalties and other income from licenses patented in Ireland. The concept was applied in 2001 by the French Tax Authorities as a reduced rate of tax on revenue from IP licensing or the transfer of qualified IP. Within Europe, Belgium, Hungary, Luxembourg, Netherlands, Spain and the United Kingdom have also introduced similar schemes. Controversy The Irish Patent Box system is one of the key benefits for companies paying Irish corporation tax. The s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deloitte
Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY (Ernst & Young), KPMG and PricewaterhouseCoopers (PWC). The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in Janu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PricewaterhouseCoopers
PricewaterhouseCoopers is an international professional services brand of firms, operating as partnerships under the PwC brand. It is the second-largest professional services network in the world and is considered one of the Big Four accounting firms, along with Deloitte, EY and KPMG. PwC firms are in 157 countries, across 742 locations, with 284,000 people. As of 2019, 26% of the workforce was based in the Americas, 26% in Asia, 32% in Western Europe and 5% in Middle East and Africa. The company's global revenues were $42.4 billion in FY 2019, of which $17.4 billion was generated by its Assurance practice, $10.7 billion by its Tax and Legal practice and $14.4 billion by its Advisory practice. The firm in its recent actual form was created in 1998 by a merger between two accounting firms: Coopers & Lybrand, and Price Waterhouse. Both firms had histories dating back to the 19th century. The trading name was shortened to PwC (stylized p''w''c) in September 2010 as part of a rebr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aardman Animations
Aardman Animations Limited (also known as Aardman Studios, simply Aardman or Aardman Animation and stylised as AARDMAN as of 2022) is a British animation studio based in Bristol, England. It is known for films made using stop-motion and clay animation techniques, particularly those featuring its plasticine characters Wallace and Gromit, Shaun the Sheep, and Morph. After some experimental computer-animated short films during the late 1990s, beginning with ''Owzat'' (1997), Aardman entered the computer animation market with ''Flushed Away'' (2006). As of February 2020, it had earned $1.1 billion worldwide, with an average $134.7 million per film. Aardman's films have been consistently very well received, and their stop-motion films are among the highest-grossing produced, with their 2000 debut, ''Chicken Run'', being their top-grossing film, as well as the highest-grossing stop-motion film of all time. History 1972–1996 Aardman was founded in 1972 as a low-budget project by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Arts
Electronic Arts Inc. (EA) is an American video game company headquartered in Redwood City, California. Founded in May 1982 by Apple employee Trip Hawkins, the company was a pioneer of the early home computer game industry and promoted the designers and programmers responsible for its games as "software artists." EA published numerous games and some productivity software for personal computers, all of which were developed by external individuals or groups until 1987's ''Skate or Die!''. The company shifted toward internal game studios, often through acquisitions, such as Distinctive Software becoming EA Canada in 1991. Currently, EA develops and publishes games of established franchises, including ''Battlefield'', ''Need for Speed'', ''The Sims'', ''Medal of Honor'', ''Command & Conquer'', ''Dead Space'', ''Mass Effect'', ''Dragon Age'', ''Army of Two'', ''Apex Legends'', and '' Star Wars'', as well as the EA Sports titles '' FIFA'', ''Madden NFL'', ''NBA Live'', ''NHL'', an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Channel 4
Channel 4 is a British free-to-air public broadcast television network operated by the state-owned enterprise, state-owned Channel Four Television Corporation. It began its transmission on 2 November 1982 and was established to provide a fourth television service in the United Kingdom. At the time, the only other channels were the television licence, licence-funded BBC One and BBC Two, and a single commercial broadcasting network ITV (TV network), ITV. The network's headquarters are based in London and Leeds, with creative hubs in Glasgow and Bristol. It is publicly owned and advertising-funded; originally a subsidiary of the Independent Broadcasting Authority (IBA), the station is now owned and operated by Channel Four Television Corporation, a public corporation of the Department for Digital, Culture, Media and Sport, which was established in 1990 and came into operation in 1993. Until 2010, Channel 4 did not broadcast in Wales, but many of its programmes were re-broadcast ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Walt Disney Company
The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California. Disney was originally founded on October 16, 1923, by brothers Walt and Roy O. Disney as the Disney Brothers Studio; it also operated under the names the Walt Disney Studio and Walt Disney Productions before changing its name to the Walt Disney Company in 1986. Early on, the company established itself as a leader in the animation industry, with the creation of the widely popular character Mickey Mouse, who is the company's mascot, and the start of animated films. After becoming a major success by the early 1940s, the company started to diversify into live-action films, television, and theme parks in the 1950s. Following Walt's death in 1966, the company's profits began to decline, especially in the animation division. Once Disney's shareholders voted in Michael Eisner as the he ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seed Enterprise Investment Scheme
The Seed Enterprise Investment Scheme (SEIS) was launched by the United Kingdom government on 6 April 2012 in order to encourage investors to finance startups by providing tax breaks for backing projects they may otherwise view as too risky. SEIS acts as a powerful incentive to encourage investors to invest as the tax relief can allow individual investors to reduce their effective income tax liability, for the year in which they make the investment, to zero. Examples Some of the funding for the establishment of the Nc’nean distillery in Scotland Scotland (, ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to the ... was from SEIS. References {{reflist Taxation in the United Kingdom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Enterprise Investment Scheme
The Enterprise Investment Scheme (EIS) is a series of UK tax reliefs launched in 1994 in succession to the Business Expansion Scheme. It is designed to encourage investments in small unquoted companies carrying on a qualifying trade in the United Kingdom. By the end of the 2014-15 tax year, a cumulative total of £14.2 billion had been invested under the scheme into approximately 25,000 companies. In that year, in excess of £1.8 billion was invested under the EIS. Purpose Investment in companies that are not listed on a stock exchange often carries a high risk of loss of capital, and low market liquidity means that it may be difficult or time consuming to sell or realise the investment. The tax reliefs available under the EIS are intended to offer investors some incentive to counterweigh those risks. Provision of tax relief The EIS offers several different kinds of tax relief, available both to direct investors and investors through a managed EIS fund or portfolio service. They a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Research And Development Capital Allowances
{{Short description, Tax credit Research and Development Capital Allowances, also known as RDAs, are a tax relief for businesses in the United Kingdom. They provide a 100 per cent first year capital allowance for research and development (R&D) capital expenditure. RDAs are the capital expenditure equivalent to the R&D tax relief scheme. History RDAs were the new name given to Scientific Research Allowances (which already existed) when the R&D Tax Credit scheme was launched in 2000. Overview R&D Tax Relief only applies to revenue expenditure - generally, costs incurred on day-to-day operations, as opposed to expenditure on capital assets. However, RDAs allow relief for R&D capital expenditure as a capital allowance. RDAs make it possible to claim 100 per cent of the capital cost against taxable profits in the year the cost is incurred. This can deliver a helpful cash flow boost and a shortened payback period. A company should consider applying for RDAs if it has: *constructed or pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Video Game Industry
The video game industry encompasses the development, marketing, and monetization of video games. The industry encompasses dozens of job disciplines and thousands of jobs worldwide. The video game industry has grown from niches to mainstream. , video games generated annually in global sales. In the US, it earned about in 2007, in 2008, and 2010, according to the ESA annual report. Research from Ampere Analysis indicated three points: the sector has consistently grown since at least 2015 and expanded 26% from 2019 to 2021, to a record ; the global games and services market is forecast to shrink 1.2% annually to in 2022; the industry is not recession-proof. The industry has influenced the advance of personal computers with sound cards, graphics cards and 3D graphic accelerators, CPUs, and co-processors like PhysX. Sound cards, for example, were originally developed for games and then improved for the music industry. Industry overview Size In 2017 in the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Electronic Arts")
.jpg "Click for more on -> Video Game Industry")