×
You will be redirected back to your article in seconds

U.K. Pays Out $2.24 Billion in Film Tax Relief in Nine Years

LONDON — The U.K. government has paid out almost £1.5 billion ($2.24 billion) in film tax relief since the current rebate model was introduced in January 2007, its statistics unit has reported.

Some £1 billion ($1.49 billion) of this was paid to big-budget films, and £450 million ($671 million) to lower-budget films. There have been 2,615 claims since the rebate started. In 2014-15, there were 485 claims and more than £250 million ($373 million) paid out. In comparison, in 2007-08 there were 115 claims and £104 million ($155 million) paid out.

The films that have qualified for the rebate in 2015 have included “Mr Holmes,” “Suffragette,” “Avengers: The Age of Ultron” and “Genius,” which world premieres in February at the Berlin Film Festival.

The high-end television tax relief, which has been available since April 2013 to TV productions budgeted at £1 million ($1.49 million) or more an hour, resulted in government pay-outs totaling £92 million ($137 million). In 2013-14, £52 million ($77.5 million) was claimed and £51 million ($76 million) paid out.

Animation tax relief has produced £10 million ($14.9 million) in pay-outs since it bowed in April 2013. In 2013-14, almost £4 million ($5.96 million) was claimed and £3 million ($4.47 million) paid out.

Stephen Bristow, head of business development — film and TV at accounting firm Saffery Champness, commented: “The announcement of the cost of the creative sector tax reliefs for film, high-end television and animation demonstrates the enormous commitment the government has made to the creative sector.

“The creative industries are a huge contributor to the U.K. economy, adding billions to the U.K. GDP and employing more than 1.8 million jobs up and down the country. Employment in the creative industries is at twice the rate of the wider economy. These jobs range from high-tech innovators in the post-production sector to plumbers, carpenters, electricians and drivers.”

More Artisans

  • MTV The Challenge

    How 'The Challenge' Relied on Global Crew to Pull Off Plane Game

    Thirty-three seasons into MTV’s “The Challenge,” the reality competition series has spawned a band of traveling producers and engineers who fly around the world to create one-of-a-kind games. This includes placing cameras, smoke elements and a puzzle inside a plane that was suspended more than 30 feet above water. Executive producer Justin Booth joined “The [...]

  • Chaz Ebert DePaul CHA Documentary Filmmaking

    Chicago Program Gives High School Girls Lessons in Documentary Filmmaking

    At the upcoming Cannes Film Festival, three of the projects screening in the Short Film Corner — “Birthday,” “Phenomenally Me” and “Without Dying” — will be products of the DePaul/CHA Documentary Filmmaking Program, a six-week course co-sponsored by the Chicago Housing Authority in which high school girls learn filmmaking from graduate students and faculty of [...]

  • Steven Spielberg55th Annual CAS Awards, Inside,

    Cinema Audio Society Sets 2020 Awards Show Three Weeks Earlier

    The Cinema Audio Society has moved its 2020 awards show ahead by three weeks to Jan. 25 due to the compression of the season. It will be held at the Intercontinental Los Angeles Downtown. The CAS Awards recognize sound mixing in film and television, outstanding products for production and post-production, as well as the recipient [...]

  • Rocketman Elton John Biopic

    'Rocketman' Production Team Took the Fantasy Route With the Elton John Biopic

    Paramount has high hopes for “Rocketman,” the Elton John biopic starring Taron Egerton as the legendary performer. Premiering at the Cannes Film Festival on May 16, the film comes on the heels of Fox’s massively successful Freddie Mercury movie “Bohemian Rhapsody” and could capitalize on audiences’ newly discovered interest in rock star stories that transport [...]

  • Burbank-based Barnstorm VFX Studio Expands to

    Barnstorm VFX, Creator of Visuals for Amazon’s ‘The Man in the High Castle’ and Other Shows, Expands to Vancouver

    Barnstorm VFX, the company behind the visual effects on Amazon Studios’ “The Man in the High Castle” (pictured above), “HBO’s Silicon Valley” and CBS’ “Strange Angel,” has opened a new facility in Vancouver, British Columbia. The move positions the boutique digital effects, design and production shop to take advantage of expanding work north of the [...]

  • Maryland Production Incentives Include 25%-27% Refundable

    Maryland Lures Producers With a Tax Credit of Up to 27%

    With its close proximity to the nation’s capital and a wide diversity of filming locations, Maryland offers producers many enticements. The physical attractions range from the historic and picturesque Chesapeake Bay, scenic Appalachian Mountain landscapes, the U.S. Naval Academy with its marching cadets, the gritty yet gentrifying cityscapes of Baltimore, and the leafy suburbs around [...]

More From Our Brands

Access exclusive content