Free support for region’s creative businesses

Creative businesses across the East Midlands are able to apply for free funding to help them accelerate business growth, create jobs and prepare for investment.

The East Midlands Creative Consortium (EMC²) has begun accepting applications from high-potential creative businesses after being awarded government funding of over £1.2 million. You can find more information and apply via the East Midlands Creative Consortium website.

EMC² wants to hear from growing creative businesses operating in the following sectors:

• Advertising and marketing
• Architecture
• Crafts design and designer fashion
• Film, TV, video and radio
• Photography
• IT, gaming, software and computer services
• Publishing
• Museums, galleries and libraries

This funding is open to businesses in Derby, Derbyshire, Leicester, Leicestershire, Rutland, and Greater Lincolnshire.

Creative tax reliefs

Creative businesses may also be eligible to claim creative tax reliefs. These are a group of 8 corporation tax reliefs that were devised by the UK government to help and support UK creative industries to grow.

Broadly speaking, creative tax reliefs enable your company to increase its allowable expenditure by way of an enhanced deduction which can reduce the amount of corporation tax your company has to pay. If your company makes a loss as a result of the claim, you may be able to surrender the loss and convert some or all of it into a payable tax credit.

Find out more about creative tax reliefs and how your company can claim here.

More from our tax experts

You can find all of our latest tax articles and tax resources here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.