BusinessCompany NewsBudget 05: Tax relief for UK films extended

Budget 05: Tax relief for UK films extended

Section 48 tax relief for low-budget UK films to be extended.

A tax relief scheme for low-budget UK films is to be extended until the end of March next year, despite expectations that it would end in the summer.

The so called section 48 relief for movies budgeted at under £15m will now run much longer than expected and amid hopes that it would be replaced altogether.

Section 48 was introduced in 1997 but was extended in 1999 and 2001. The industry has complained bitterly that failure to clarify the future of section 48 has made the planning of production schedules extremely difficult.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

6d Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

8m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

8m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

11m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

11m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

11m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

11m Emma Smith, Managing Editor