Audio-Visual Expenditure Credit (AVEC)
The UK's AVEC is a payable credit worth 34% of qualifying spend for film and high-end TV — about 25.5% net after corporation tax, which is the cash value modeled here. Relief applies to the lower of your UK spend or 80% of core costs. Lower-budget films (under £15M) can claim the enhanced Independent Film Tax Credit (53% gross), and VFX earns 39%. You must pass the BFI cultural test.
How the program works
- • AVEC ~25.5% net (34% gross) of qualifying UK spend
- Max effective rate: 40%
- • Minimum qualified spend: £0
- • Requires British certification via the BFI cultural test (or a qualifying co-production); minimum 10% UK core expenditure.
- • Rates shown are NET of the 25% corporation tax (34% gross → ~25.5% net). Independent Film Tax Credit = 53% gross (~39.75% net) for films with core budget under £15M; VFX = 39% gross and is exempt from the 80% cap.
- • CPA / state audit required
How it becomes cash
This is a refundable credit. The state pays out the amount above your tax liability as a cash refund, so you don't need in-state tax to benefit.
No annual or national cap — AVEC is an uncapped statutory scheme available to all qualifying productions.
Are you a film commissioner or agency with official updates to this program? If you have corrections to this documentation, please submit them here.
Submit an update →This is an estimate, not advice.
Every number here is an estimate generated from published program rules and your inputs. Programs change with each legislative session, and qualification depends on details a calculator can't see. This is not tax, legal, or financial advice. Before you make a financing decision, confirm everything with the state film office and a qualified CPA and entertainment attorney.