UK Film Tax Relief
Value of 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%.
• There is no budget limit.
Accessing UK Film Tax Relief• Tax relief is available for British qualifying films. Films must either pass the Cultural Test or qualify as an official co-production.
• Films must be intended for theatrical release.
• Films, including those made under official co-production treaties, must reach a minimum UK spend requirement of 10%.
• Tax relief is available on qualifying UK production expenditure on the lower of either 80% of total core expenditure or the actual UK core expenditure incurred.
• There is no cap on the amount which can be claimed.
• The FPC responsible for the film needs to be within the UK corporation tax net.