TaxCorporate TaxShow not over for TV tax

Show not over for TV tax

Controversial plans to end tax relief for all made-for-television films have been watered down following vigorous lobbying from UK production companies.

In an amendment to the finance bill, films that cost more than £500,000 for each hour of output and which had begun shooting before 30 June have been exempted, at a cost of £50m to the government coffers.

The reprieve followed Gordon Brown’s announcement in his April Budget statement that tax relief would be withdrawn for all productions other than those intended for cinema release with immediate effect.

In the past, producers had been able to claim relief on money raised from individuals looking for tax breaks, but Brown believed the concessions had been abused by soap operas and game show producers.

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