Creative Industry Funding – A Complete Guide to Government Grants, Tax Relief and Investment Opportunities in 2025 The UK’s creative industries are worth an impressive £125 billion to the economy and have been recognised as one of the government’s eight growth-driving sectors¹. If you’re running a creative business, such as a filmmaker, musician, artist, designer, or gaming studio, there’s never been a better time to explore the wealth of creative industry funding opportunities available to help grow your venture. At Green & Peter Accountants, we work with creative businesses across North London and beyond, helping them understand funding options while maximising their creative industry tax relief claims. Here’s your comprehensive guide to the funding opportunities that could transform your creative business in 2025. Government Funding Schemes: £60 Million Investment Programme In the Autumn Budget 2024, the government announced a significant £60 million boost for creative industries to turbocharge growth across the sector². This represents one of the largest creative industry funding packages in recent years, with support specifically targeted at businesses outside of London and emerging creative sectors. Create Growth Programme: Investment Readiness Support One of the standout opportunities is the Create Growth Programme, which provides grants of up to £50,000 alongside tailored business support³. This programme specifically helps creative businesses become investment-ready, connecting them with potential funders and providing the strategic guidance needed to scale successfully. The programme targets businesses in six key regions: Greater Manchester, West of England and Cornwall, Norfolk and Suffolk, Leicestershire and Derbyshire, Kent and Sussex, and the North East⁴. If your creative business is located in these areas, this represents a significant opportunity to access both funding and expert business support. UK Games Fund: Supporting Digital Innovation For gaming studios and interactive digital businesses, the UK Games Fund continues to provide vital early-stage support. Recent creative industry funding rounds have awarded grants of up to £25,000 to promising start-up studios across the country, from VR experiences to mobile games and educational projects⁵. Since its establishment in 2015, this fund has received increased government funding of over £8 million for the 2022-2025 period⁶, demonstrating the government’s commitment to supporting digital creative innovation.
Supporting Grassroots Music: £40,000 Grants Available The music industry benefits from the Supporting Grassroots Music Fund, which enables venues, recording studios, promoters, and festivals to apply for grants of up to £40,000⁷. This funding helps develop new revenue streams, make essential repairs and improvements, and enhance the live music experience for millions of music fans across the UK. This programme recognises the crucial role that grassroots venues play in nurturing new talent and maintaining the UK’s position as a global music powerhouse. Creative Industry Tax Relief: Enhanced Rates and New Opportunities Beyond grants, the UK offers one of the world’s most comprehensive creative industry tax relief systems. Recent reforms have made these incentives even more generous and accessible. Audio-Visual Expenditure Credit (AVEC): The New Film and TV Relief The government has replaced the previous film and TV tax reliefs with the new Audio-Visual Expenditure Credit (AVEC), which provides enhanced benefits⁸:
34% gross credit for film and high-end TV productions (25.5% net after tax) 39% gross credit for animation and children’s TV (29.25% net after tax) 53% gross credit for independent films under £15 million budget (39.75% net after tax) Particularly exciting for the industry is the enhanced support for visual effects work. From April 2025, VFX expenditure now attracts a remarkable 29.25% net tax relief, with no cap on the 80% expenditure limit that applies to other costs⁹. This makes the UK one of the most attractive global destinations for high-end visual effects work. Theatre, Orchestra and Museums: Permanent Higher Rates The performing arts sector benefits from permanently enhanced tax relief rates¹⁰:
45% relief for touring productions and all orchestra performances 40% relief for non-touring theatre productions 40% relief for museum and gallery exhibitions These generous rates recognise the important cultural and economic contribution of the performing arts sector and help ensure the UK remains a global centre for theatrical and musical excellence. Creative Industries Investment Funds and Private Funding Creative UK Investment Fund: £35 Million Available For more established creative businesses with strong growth potential, the Creative UK and Triodos Bank investment fund provides loans from £100,000 to £1 million¹¹. This fund specifically targets post-revenue creative businesses that are bringing change, disruption, and new intellectual property to the creative industries. The fund particularly focuses on businesses that harness creativity with technology, recognising the convergence between traditional creative industries and digital innovation.
Arts Council England Funding Programmes The Arts Council England continues to offer substantial support through various programmes¹²:
National Lottery Project Grants: From £1,000 to £100,000 for arts, libraries, and museums projects Creative Foundations Fund: Capital funding for cultural organisations to revitalise and renew cultural assets Developing Your Creative Practice: £2,000 to £12,000 grants for individual practitioners These programmes provide crucial support across the entire creative ecosystem, from individual artists to major cultural institutions. Sector-Specific Opportunities Music Export and International Growth The Music Export Growth Scheme supports small music companies building commercial potential by profiling their artists in overseas markets. With £1.6 million in funding available¹³, this programme helps UK music businesses access international opportunities and build global audiences. Screen Industries International Support The UK Global Screen Fund provides £7 million to support international development, production, distribution, and promotional opportunities for the UK’s independent screen sector¹⁴. This funding helps British productions access global markets and compete internationally. Digital and Interactive Entertainment Beyond the Games Fund, the broader digital entertainment sector benefits from various innovation programmes. Innovate UK’s Creative Catalyst programme provides up to £10 million for innovation projects¹⁵, supporting businesses that demonstrate clear benefits to the creative industries sector and wider UK economy. Maximising Your Funding Success Professional Guidance is Essential While these funding opportunities are extensive, successfully managing the application process requires expertise. The combination of technical requirements, financial planning, and strategic positioning can be complex. At Green & Peter, we help creative businesses not only identify the most suitable funding opportunities but also structure their finances optimally to support successful applications. This includes ensuring your creative industry investment strategy aligns with both your business goals and funder requirements. Whether you’re working as a freelance writer, social media influencer, or running a creative agency, understanding how to structure your business for funding success is crucial.
Tax Relief Claims: Don’t Leave Money on the Table One of the most overlooked aspects of creative business funding is maximising creative industry tax relief claims. Our research shows that many creative businesses fail to claim all available relief, effectively leaving money on the table. Whether you’re producing films, developing games, staging theatrical performances, or creating digital content, ensuring your business structure and financial records support maximum tax relief claims is crucial for cash flow and profitability. We’ve written extensively about business expenses that creative businesses can claim and specific guidance for different creative sectors including models and influencers. Planning for Long-term Growth The most successful creative industries funding strategies combine immediate support with longterm financial planning. This might involve:
Structuring your business to qualify for multiple funding streams Planning project timelines to optimise tax relief claims Building relationships with both public and private funders Developing financial systems that support robust funding applications Many creative businesses benefit from switching from sole trader to limited company status when their income grows. We’ve helped numerous clients minimise their tax payments through strategic business structuring, and understanding when to make this transition is crucial for accessing certain funding streams. The Future of Creative Industry Support The government’s recent announcements demonstrate a clear commitment to the creative industries as a growth driver for the UK economy. With the introduction of shorter apprenticeships from August 2025, enhanced tax relief rates, and increased funding programmes, the creative industries landscape is more supportive than ever. The Creative Industries Taskforce, chaired by leading industry figures, is developing sector-specific plans that will shape future support. This suggests that current funding levels represent just the beginning of expanded government support for creative businesses. Getting Started with Your Creative Industry Funding Journey If you’re ready to explore creative industry funding opportunities for your business, the key is to start with a clear understanding of your current financial position and growth objectives. Each funding programme has specific requirements, and success often depends on presenting a compelling case that aligns with funders’ strategic priorities. For creative businesses just starting out, understanding your obligations to HMRC is essential. We’ve created a comprehensive guide on how to register with HMRC as a creative business to help you get started on the right foot. Many funding applications also require up-to-date financial records, so having proper bookkeeping and accounting systems in place is crucial.
Whether you’re an established creative business looking to scale, an innovative start-up seeking seed funding, or an artist wanting to develop new work, there are programmes designed to support your ambitions. The combination of generous creative industry tax relief, substantial government grants, and private creative industry funding opportunities creates an unprecedented ecosystem of support for UK creative businesses. The challenge is not finding funding—it’s choosing the right combination of support mechanisms and presenting applications that stand out in an increasingly competitive landscape. At Green & Peter Accountants, we specialise in helping creative businesses with everything from optimising tax relief claims to supporting funding applications. We ensure your creative business has the financial foundation it needs to thrive. Our team of experienced chartered accountants has been supporting creative professionals since 1993, giving us deep insight into the unique challenges and opportunities in the sector. Ready to unlock the creative industry funding opportunities available to your business? Contact Green & Peter today on 020 8446 8100 or complete our online contact form to discover how we can support your funding journey. About Green & Peter This article was written by the team at Green & Peter Chartered Accountants, specialists in providing accounting and tax services to creative professionals across North London and beyond. Established in 1993, we have over 30 years of experience working with actors, models, musicians, filmmakers, artists, influencers, and other creative businesses, helping them understand creative funding options and maximise their creative industry tax relief claims. Based in Whetstone, North London, we understand that creative businesses operate differently from traditional companies, which is why we’ve developed specialised expertise in areas like royalty management, irregular income planning, and industry-specific funding applications. References: 1. 2. 3. 4. 5. 6. 7. 8. 9.
UK – Funding for UK’s growth-driving creative industries confirmed in the Budget UK – £60 million boost for creative industries to turbocharge growth Innovation Funding Service – Creative Catalyst 2024 Competition UK – Creative businesses across the UK receive funding boost Enterprise Nation – Government announces £40m in funding for creative industries UK – £20 million to boost creative industries across England UK – Funding for UK’s growth-driving creative industries confirmed in the Budget Tax Adviser – The UK creative industry: reform of tax reliefs British Film Commission – Accessing UK Tax Reliefs Deloitte TaxScape – Additional support for the creative sectors Bristol Creative Industries – A guide to funding for creative businesses Arts Council England – Our open funds Enterprise Nation – Government announces £40m in funding for creative industries Enterprise Nation – Government announces £40m in funding for creative industries Innovation Funding Service – Creative Catalyst 2024 Competition
