AS2013: Tax reliefs for large films extended

by Calum Fuller

More from this author

05 Dec 2013

  • Comments

TAX RELIEFS for large films and similar cultural productions are to be extended, the chancellor confirmed in his Autumn Statement.

Larger productions, such as that of Disney's upcoming Star Wars feature are to receive 25% tax relief on the first £20m spend, and £20% thereafter.

Previously, there had been two reliefs, one for small ventures and another for larger projects. The two have now been combined.

The changes see the proportion of the productions obliged to take place in the UK drop from 25% to 10%.

There is also some disappointment from practitioners and industry that the reliefs are not extended to video games production and visual effects work. They do, however, take in regional theatre productions.

MHA MacIntyre Hudson tax partner Tom Byng said: "This should encourage films to be made in the UK with a £1m tax saving, however the reduction in the minimum UK spend may mean some of the wider economic benefits may be lost."

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.