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Britain
UK Gov’t Introduces Indie Movie Tax Relief Of 40%
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deadline.com
deadline.comThe UK government is to introduce an extended indie movie tax credit for films that have budgets between £1M and £15M, along with bringing in business rates relief for big studios.
From April 1, the new indie relief will be separate to the pre-existing film and high-end TV tax credit but both will fall under the new Audio-Visual Expenditure Credit system.
The local industry has been calling for the move for months. Producer trade body Pact and the BFI immediately welcomed the move.
Chancellor Jeremy Hunt also announced in the past few moments that a VFX cost cap of 80% will be removed to aid with projects that benefit from the film and high-end TV tax credit.
Read more on deadline.com
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