UK Film Tax Relief
For all British qualifying films of any budget level, the film production company can now claim a payable cash rebate of up to 25% of UK qualifying expenditure. The tax relief is capped at 80% of core expenditure i.e. even if you spend 100% qualifying expenditure in the UK, tax relief is payable on up to 80%.
Tax relief is available for British qualifying films and films must either pass the cultural test or qualify as an official co-production. Films must also be intended for theatrical release and must reach a minimum UK spend requirement of 10%.
UK qualifying production expenditure is defined as expenditure incurred on filming activities (pre-production, principal photography and post production) which take place within the UK, irrespective of the nationality of the persons carrying out the activity.
If you require any assistance with film tax credits, please do not hesitate to contact us.
The information in this article is believed to be factually correct at the time of writing and publication, but is not intended to constitute advice. No liability is accepted for any loss howsoever arising as a result of the contents of this article. Specific advice should be sought before entering into, or refraining from entering into any transaction.