×

U.K. extends film tax credit

Rebates to continue to end of 2015

Blighty’s government is extending the country’s 25% film tax credit until the end of 2015.

The news came as a welcome announcement from Prime Minister David Cameron, signalling that Hollywood and international projects would continue to reap the benefits of the crucial support that has attracted studio pics such as the “Harry Potter” and James Bond franchises to the country.

Cameron said the tax relief would “guarantee millions of pounds of support for the British film industry.

“The last year has seen massive success, both at home and abroad, for a whole host of U.K. films. I look forward to seeing the U.K. film industry continue to thrive over the coming years, supported by the government’s film tax relief.”

Blighty’s film tax relief scheme promotes production of culturally British films and in 2009/10 provided around £95 million ($151 million) of support to 208 films that generated $1.8 billion of inward investment into the country.

Popular on Variety

Productions with a budget of £20 million ($32 million) or less can apply for a 25% tax rebate while pics with a budget higher than that can claim a 20% rebate.

Recent productions certified as British under the cultural test include “Brighton Rock,” “Attack the Block,” “Streetdance 3D,” “Gnomeo & Juliet,” “Clash of the Titans” and the “Harry Potter” franchise.

“The huge success of British films at the Oscars, the Golden Globes and the BAFTAs this year is clear recognition of our world-class talent and creativity,” said film minister Ed Vaizey. “But as a vital creative industry, it also has huge potential for economic growth.”

In a statement, Josh Berger, president and managing director, Warner Bros. U.K., said: “For almost 90 years, Warner Bros. has been investing in U.K. film production and the U.K. film industry’s outstanding creative talent. In the last year alone, we’ve produced six major feature films here, released the final film in the U.K.-produced ‘Harry Potter’ movie series, and committed £100 million to create our permanent production home, Warner Bros. Studios Leavesden, which will open in summer 2012. We welcome the government’s expression of support for the U.K. film industry through its renewal of the film tax credit.”

Pinewood Shepperton chairman Michael Grade remarked that the extension and security of the tax credit “will deliver certainty for the U.K.’s talented filmmakers, and will provide the platform for growth, investment and jobs in a growing segment of the economy.”

Matthew Justice, topper at Brit shingle Big Talk Prods. and a BFI governor, told Variety that the government had demonstrated “a fantastic show of faith in the British film industry” by extending the tax relief.

“Let’s hope that we can all deliver on the ambition to continue to grow the British film industry in the coming years and build on what has been a vintage year for British film,” he said.

Cameron also said that he was delighted that the BFI is setting up a $319,000 Lottery-backed film export fund to promote Brit pics internationally and help sales.

More Film

  • (center) George MacKay as Schofield in

    '1917,' 'Succession' Among Top PGA Award Winners

    “1917” continued its string of major awards season wins on Saturday night, earning the Producers Guild of America award for best picture. Coupled with its win for best picture, drama at the Golden Globes, the WWI movie is officially the front runner for Oscar’s top prize. “It’s a film that is a tribute to all [...]

  • Bong Joon Ho, Jane Rosenthal, David

    Netflix Praised by 'The Irishman,' 'Marriage Story' Filmmakers at Producers Guild Panel

    Streaming giant Netflix received strong support from filmmakers behind “The Irishman” and “Marriage Story” at the Producers Guild of America’s nominees panel on Saturday at the Skirball Cultural Center in Los Angeles. Jane Rosenthal, one of “The Irishman” producers, said Netflix embraced the vision that she and Martin Scorsese had for the $170 million film. [...]

  • Gabriel Harel on MyFFF ‘The Night

    Gabriel Harel Discusses Dystopic Parable ‘The Night of the Plastic Bags’

    With his first short film, the animated “Yùl and the Snake,” Gabriel Harel won Europe’s Cartoon d’Or for the continent’s best animated short film, given at the 2016 Cartoon Forum in Toulouse. Now, Harel’s awaited sophomore effort, the animated “The Night of the Plastic Bags,” competes at UniFrance’s MyFrenchFilmFestival, and is available on a swathe [...]

  • MyFrenchFilmFestival: Profiling Benjamin Crotty’s Short ‘Nicolas

    ‘The Glorious Acceptance of Nicolas Chauvin’: Nationalism Wrapped in Charisma

    Winner of Locarno’s Signs of Life section, Benjamin Crotty’s “The Glorious Acceptance of Nicolas Chauvin” has enjoyed more than 12 months of festival success and critical acclaim as it reaches the end of its festival run at UniFrance’s MyFrenchFilmFestival. A modern take on one of France’s most influential yet widely unknown characters, the film headlines [...]

  • Alexander Ludwig

    Alexander Ludwig on Sharing his Recovery Journey, Playing the 'Bad Boys' Tech Guy

    With his towering height and stature, Alexander Ludwig looks every bit the action star, first appearing as Cato in “The Hunger Games,” and more recently as fierce Norse Viking chief Bjorn Ironside on History Channel’s “Vikings” and in “Bad Boys for Life,” the third installment of the “Bad Boys” franchise, with Will Smith and Martin [...]

  • Will Smith and Martin Lawrence star

    Box Office: 'Bad Boys for Life' Scores Big With $66 Million Launch

    “Bad Boys for Life” is showing plenty of power at the North American box office with an impressive  launch of around $66 million at 3,740 venues over the four-day holiday weekend. Sony’s sequel to 1995’s “Bad Boys” and 2003’s “Bad Boys II” far exceeded the studio’s pre-release forecasts of a $38 million weekend. The film, [...]

  • A Bump Along the Way Movie

    'A Bump Along the Way': Film Review

    While “Derry Girls” continues to be the last word in young, raucous female rebellion on the Emerald Isle, “A Bump Along the Way” has a little something to add. Sin the same Northern Irish city as the hit Netflix sitcom, but shedding the ’90s nostalgia for the Snapchat age, Shelly Love’s appealing, unassuming debut feature [...]

More From Our Brands

Access exclusive content