British Film Institute audit requirement for tax relief
From 1 July 2025, the British Film Institute (BFI) requires certain reports from accountants to be signed off by a UK statutory registered auditor.
To access the Audio-Visual Expenditure Credits (AVEC) or Enhanced AVEC (IFTC), a film must be qualified as British under the BFI cultural test.
Previously, applications supported by a qualified accountant were enough. The introduction of a mandatory auditor sign-off is designed to provide greater assurance over financial information submitted to the BFI.
Production companies seeking to claim AVEC or IFTC need professional guidance early, ensuring auditors are involved during both the interim and final certification submissions.
As UK statutory registered auditors, our team can fulfil the sign-off requirement needed on supporting AVEC and IFTC reports. We can verify qualifying expenditure and ensure financial submissions to the BFI are compliant and accurate. Give us a call today!
Our team will deliver:
- Transparency throughout the entire audit process
- Direct Partner involvement, not just junior associates
- Expertise tailored to creative industries
Call FFT