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<p>There are no plans to introduce a Smart Fund tax on technological devices but the
Government continues to monitor the way that creative sector tax reliefs are working
to ensure they are effective.</p><p> </p><p>The Government recognises the significant
disruption the necessary actions to combat Covid-19 are having on sectors such as
the creative arts.</p><p> </p><p>During this difficult time the Treasury has worked
intensively with employers, delivery partners, industry groups, and other government
departments to understand the long-term impact of Covid-19 on all key areas of the
economy and continues to do so.</p><p> </p><p>The sector continues to benefit from
the significant cross-economy support made available throughout this pandemic, including
the generous employment schemes, grants, loans, a reduction in VAT to 5%, business
rates relief, and the extension of the moratorium on commercial evictions for business
tenants.</p><p> </p><p>In March 2021, the Chancellor announced a further £300m to
build on the existing £1.57 billion Culture Recovery Fund to protect the cultural
sectors. To date, more than £1.2 billion in grants, repayable finance and capital
has been awarded to over 5000 organisations and sites in England.</p><p> </p><p>Additionally,
in March 2021, the Chancellor extended the £500 million Film & TV Production Restart
Scheme to enable the screen sector to operate throughout the year. The registration
deadline for this scheme is 31 October 2021, and claims will be able to be submitted
up to 31 March 2022 for losses incurred up until 31 December 2021. The scheme has
directly supported more than 45,000 jobs.</p><p> </p><p>The £7 million UK Global Screen
Fund pilot has also been established to support the export of UK independent screen
content, in particular UK independent film.</p>
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