Blog

Author: Erin Walls

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Averaging Relief for Creators of Literary or Artistic Works: Who Can Claim and How

18 August 2026

If more than half of your profit comes from literary, dramatic, musical or artistic works you created yourself, you can ask HMRC to tax two consecutive years on the average of their combined profit rather than year by year. The claim is only available where the lower year comes in under 75% of the higher year, or where one of the two years is nil. It has to be made within 22 months of the end of the later tax year, and it cannot be combined with the cash basis, which has been the default for sole traders since April 2024.

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The Independent Film Tax Credit Explained: UK Rates, Eligibility and How to Claim

12 August 2026

The Independent Film Tax Credit (IFTC) is an enhanced 53% rate of Audio-Visual Expenditure Credit for low-budget British films, worth roughly 39.75% net after tax. It only applies to the first £15 million of a film’s core expenditure, films must not exceed £23.5 million in total core spend, and the production needs a UK lead writer, UK lead director, or official co-production status on top of passing the standard BFI cultural test.

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Artist Resale Rights in the UK: Royalty Rates, Who Pays and How the Income Is Taxed

11 August 2026

Artist resale rights pay you a royalty whenever one of your original works is resold for £1,000 or more through a gallery, dealer or auction house. Rates run from 4% down to 0.25% on a cumulative scale, capped at £12,500 per sale, and you collect through DACS or ACS rather than invoicing the trade yourself. The money is taxable income but sits outside the scope of VAT, and the right keeps paying your heirs for 70 years after your death.