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.
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.