The creative industries tax reliefs allow companies in a number of creative sectors to reduce the amount they have to pay in corporation tax. The relevant sectors are those involved in the making of films, high-end TV, children’s TV, animation, video games, theatrical productions, orchestral productions, and exhibitions in museums and galleries. The calculation of the relief is broadly similar across these sectors, although in some cases different rates apply. For example, the rate of payable tax credit for films is 25%, whereas for theatrical productions it is 45% or 50% (according to the type of production). Depending on the type of creative output, different eligibility criteria also apply.

https://commonslibrary.parliament.uk/research-briefings/cbp-10093/