Increased Tax Credit Provides Welcome Relief to U.K. Independent Film Industry
variety.comZygi Kamasa, the head of distributor and producer True Brit Entertainment. “So we pivoted within days of it coming through.” “Giant” may have been the first, but just six months on from the announcement of the IFTC Kamasa says that it’s contributed enormously to the output of his nascent company — which was only launched in November 2023 with a focus on films for British cinemagoers.
Where there was an initial aim to produce three films in its first year, True Brit will soon begin shooting its eighth. And while some — like “Giant” — would have happened regardless of the tax credit, he says “there were movies that were definitely expedited” because of it.
The significant interest and optimism within the British film industry since the IFTC’s announcement, despite not yet being fully implemented, is a far cry from the dark days of 2022.
A report commissioned by the British Film Institute (BFI) that year had the key and ironic takeaway that the overall boom in the country’s film and high-end TV sector had led to a corresponding negative impact on the independent sector.
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