On 6th November, Sir Lenny Henry hand delivered a letter to Number 10 Downing Street calling for the use of tax reliefs to promote greater diversity behind the camera in the British film industry. The letter was also signed by fellow luminaries Emma Thompson, Jodie Whittaker, Chiwetel Ejiofor, Thandie Newton and David Oyelowo. In an … Read more Diversity Behind the Camera – Why it’s Time for a Tax Relief
The UK’s creative industries are now worth a record £84.1 billion to the UK economy according to figures released today by the Government. The figures show that the sector is growing at twice the rate of the wider UK economy- generating around £9.6m per hour, with the success set to last with a strong line-up … Read more UK Creative Industries worth almost £10m an hour to economy
While Star Wars & Bond fans eagerly awaiting the new instalments, UK producers are looking forward to the releases for reasons of their own: it will free up acres of studio space at Pinewood & put hundreds of technical staff back on the market. The skills shortage is one of the unintended consequences of the … Read more TV & Film Tax Relief – the bigger picture
Film Tax Credits in the UK will become a full 25% on qualifying expenditure for all films, subject to EU approval, after George Osborne’s last budget of this Parliament. These credits, claimable in cash are an incentive to production in the UK. Hitherto, the 25% Tax Credit had been restricted by other limiting rules, … Read more Film & High End TV Get Budget Boost
A landmark film co-production between the UK and China treaty that was inked in 2014 has now been ratified at the UK Government’s GREAT Festival of Creativity in Shanghai. The purpose of the co-production agreement is to provide an official framework under which film producers in both countries can share financial, technical and creative resources … Read more UK – China Co-Production Treaty
(Post Apocalypse Finance) Dave Morrison of Entertainment Accountants Nyman Libson Paul looks at Tax Incentives in an austere economy. On the basis that you are reading this in early 2013, then the latest set of intermittent predictions forecasting the end of the world in December 2012 did not materialise and we are pleased … Read more TAX INCENTIVES IN AN AGE OF AUSTERITY
Great news, the TV Tax Credit is conceived, if not born yet. A welcome injection for UK high end drama and animation, even the computer games industry gets some action! The breaks start from 6 April 2013, all subject to EU State Aid approval. The draft TV Tax Credits legislation is very close in structure … Read more Great news – the TV Tax Credit is conceived!
The November 2012 announcement that Film Tax Credits will be preserved until 2015 is, of course, good news. However, it is worth noting that this does not necessarily mean that they are, or were, ever intended to end on that, or any other date. What has actually happened is that the European Commission has extended … Read more Film Tax Credits: screening until 2015