CREC081500 - Claims: additional information form: section 5 - credit redemption
Section 1179CC Corporation Tax Act (CTA) 2009
Section 5 is required for claims to the Audio-Visual Expenditure Credit
(AVEC) or the Video Games Expenditure Credit (VGEC). If the company is making a
claim for any of the other audio-visual tax reliefs, or any of the cultural tax
reliefs, then they will also need to complete sections 4 and/or 6.
Section 5 contains two parts:
- individual production details and per production expenditure reporting
- upload pages for expenditure breakdowns and tax calculations
CREC081300 covers the details that companies need to provide for each production. CREC081400 covers the expenditure totals that need to be reported for each production, and the upload pages.
This page previously covered expenditure credit redemption. The form called this section 'AVEC and VGEC discharges and surrender'. This section is no longer a part of the additional information form.
All claims to a Creative Industry Expenditure credit must still include a full computation showing how the credit is to be redeemed under the six credit redemption steps in s1179CC. This computation was previously uploaded as an attachment to the form. It is now included in the CT600P Creative Industries supplementary page instead.
Companies must complete the CT600P alongside the CT600, as part of their Company Tax Return. Guidance and a copy of the CT600P are available on GOV.UK.
The company only has to perform the credit redemption calculation once per accounting period. The company must add together all the amounts of credit due from every production on which the company is claiming AVEC or VGEC for the period, and redeem the combined total in one go.