Arts, Entertainment and Recreation

R&D Tax Credit Examples, Hints & Tips To Maximise Value
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Arts, Entertainment and Recreation

Arts, Entertainment and Recreation is booming with R&D more than ever. The sector took a hit with COVID but is expected to be reversed in the future, as there is now not a better time to begin your Research and Development Tax Claim.

We know that there are a lot of nuances regarding this incentive but that’s why specialists like ourselves are on the market. R&D is everywhere without you even necessarily realising this. We can conduct a casual meeting with yourself to understand your business, how you operate and what costs you’ve incurred that could qualify. 

 

How much could you receive in

Arts, Entertainment and Recreation

Use our free calculator today and you could have a significant benefit amount within 28 days!

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Case Study

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Large companies in the Arts, Entertainment and Recreation sector

Here are just a few of the many large companies in the Arts, Entertainment and Recreation sector.

4 Project Examples

Below are project examples that would qualify for R&D Tax Credits in Arts, Entertainment and Recreation.

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Design

Designing a product which controls lighting systems which aims to run both the performance and house lighting from the show control desk.

Technology

By using things such as AI or new technology which aims to improve the experience of the user whether online or not.

Development

The development of such advancements to the production such as an app development or the engineering of bespoke sets or staging.

Creation

Creation of an app which aims to help users have a seamless experience in a museum, whether that be by purchasing tickets or the experience within the museum.

FAQ

Frequently asked
questions.

In short, yes. The best thing to do is to figure out how much R&D you are doing, you should then be able to assign a proportion of your light, heat, water and power that was used for your R&D and amend your claim accordingly. 

One of the biggest portions of claims for the Research and Development tax incentive is circled around staff costs. Whether that might be people directly involved within the R&D or others who might be indirectly involved.

No, you do not need to create a new product to qualify for R&D Tax Credits. For example, if you tweaked a booking system which had an advancement, this could be claimed for the R&D incentive. Anytime you have attempted an advancement in the Entertainment sector, whether this worked or not, could still have the potential to be a qualifying activity.

In 2020, there were only 625 claims processed by HMRC for the Arts, Entertainment and Recreation sector, however this is set to rise towards the end of the COVID pandemic. On average you could receive £40,000 for your successful claim based on current statistics.

Where do we start? You can claim for:

  • New lighting which is more cost effecient and uses fewer utilities.
  • New, bespoke equipment development
  • Innovating new sets or bespoke staging.
  • A portion of your utility bill
  • Subcontractors (up to 65%)

Yes! You are able to claim for unsuccessful projects as this falls under the ‘uncertainty’ you faced during the Research and Development you undertook.

Examples of uncertainty for R&D are;

  • Attempting to fix an issue with machinery that does not meet your requirements however being unable to resolve the issue
  • Managing environmental factors, decreasing your carbon footprint during  your manufacturing process 
  • If an innovative product didn’t work as well as you anticipated and didn’t provide you with what you needed

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Insight

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Costs which don't qualify

Sometimes the parts you may think qualify, don’t. Here are some examples of what doesn’t qualify in the Arts, Entertainment and Recreation sector.

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Rent

Rent does not qualify for R&D Tax Credits under any circumstance.

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Marketing

Anything that comes under marketing is unable to be added into the costs for your R&D claim. For example, making a website for your Entertainment website would not be able to qualify.

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Patent Costs

The cost of applying for a patent 'IP intellectual property' is not able to qualify under R&D Tax Credits.

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Land

Purchasing land is another cost which will not qualify for the incentive. So for example, if you purchased land to develop the idea the land will not be allowed be claim for.

Find more about R&D in your sector!

Depending on your company size, you may qualify under the RDEC scheme (Research and Development Expenditure Credit) or under SME incentive (Small Medium Enterprises).

Find out more about your eligibility today.

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Start your claim with Counting King today!

Don’t hesitate on starting your claim, you could be entitled to money you didn’t realise you could have. With Counting Kings simple process you don’t need to worry about your time invested in the claim.

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