Film Tax Relief
Since 2007, the UK film tax relief has encouraged producers to film their next big blockbuster in the country. As one of the most popular of the 8 creative industry reliefs, HMRC announced big changes to beneficial tax relief for overseas productions coming to the UK. These include:
- Lowering the minimum amount to be spent in the UK to 10%
- Removing the cap on the amount of relief that can be claimed, but all continue to be capped at 80% of the total production budget (including overseas)
- Removing the cap on limited budget films, so that any losses can be claimed at 25%