Tax review for British film industry
The chairman of the UK Film Council has called for a 'reality check' and a review of the industry's tax breaks to encourage distributors to take up more British films.
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According to Sir Alan Parker, the acclaimed film director, existing tax breaks are designed to help film production while they should be directed towards improving international distribution.
He called for a review of the current 100% tax write-off for a film’s first year of production costs which is due to expire in July 2005.
The Council said it would be bringing the subject up with the Treasury and Inland Revenue.