TaxCorporate TaxFilm tax breaks extended to 2015

Film tax breaks extended to 2015

Prime minister announces extension of tax relief for British film industry

TAX BREAKS for the British film industry have been extended until 2015.

The relief is aimed at the expenses incurred in film production. Films must pass an eligibility test: it must be certified as British through either a cultural test or under an agreed treaty and it must incur at least 25% of the total production expenditure in the UK.

Relief can be claimed on a maximum of 80% of the budget.

Prime Minister David Cameron, said: “I am delighted to announce the extension of film tax relief to the end of 2015, guaranteeing millions of pounds of support for the British film industry. The past year has seen massive success, both at home and abroad, for a whole host of UK films. I look forward to seeing the UK film industry continue to thrive over the coming years, supported by the government’s film tax relief.”

Recent British productions include: Brighton Rock, Attack the Block and Harry Potter and the Deathly Hallows (actress Emma Watson pictured at the film’s New York premiere).

Image credit: Shutterstock

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