Broadcast News

Bookmark and Share
06/12/2013

British Film Commission Welcomes Chancellor's Statement

News Image
The British Film Commission has praised the enhancements to the UK's Film Tax Relief announced by the Chancellor of the Exchequer the Autumn Statement.
George Osborne announced a lowering of the minimum spend requirement from 25% to 10% and increasing the value of the relief to 25% on the first £20m of qualifying expenditure for large budget features.
In addition, the UK will seek State Aid clearance to increase the rate of relief to 25% for all qualifying expenditure in 2015.
Adrian Wootton, Chief Executive of the British Film Commission and Film London, said: "The UK is home to world-class film-making talent and expertise which help drive the industry forward, as demonstrated recently by the UK-produced and critically-acclaimed Gravity. However, in order to continue to attract business to the UK in a fiercely competitive global marketplace, our industry must be underpinned by effective fiscal incentives.
"The tax relief was a game changer when introduced in 2007 and today's announcement ensures we can continue to grow our industry, boosting the UK economy and creating British jobs; it will also encourage the production of more culturally British projects."
Sarah Mackey, CEO of UK Screen said: "The UK has an excellent reputation for film-making and the industry is rightly recognised by Government as an important source of growth and job creation. We welcome the Chancellor's ongoing support and the changes announced today which will enable more film productions to access the infrastructure and talent in the UK – driving further investment, skills development and job creation in the industry."
Alex Hope, MD of visual effects company Double Negative, and UK Screen Board Member, said: "We're delighted with the adjustment to film tax relief announced by the Chancellor in today's budget. Digital technologies, and in particular, visual effects, have transformed the filmmaking process in recent years, with VFX often now accounting for between 10 and 50% of a film's overall budget.
"In the last 15 years the UK's VFX businesses have made significant investment in infrastructure, skills and training and the UK has established itself as a multi-award winning, global centre of excellence for VFX. This commitment has attracted new production business to our shores and
benefitted the UK Film Industry as a whole.
"Until today's announcement, however, the structure of the tax relief, whilst attracting production activity to the UK, has resulted in some films shooting in the UK but taking vfx work overseas. Today's measures target productions that would not otherwise qualify for tax relief and incentivise them to bring VFX or production business to the UK, representing a significant growth opportunity for the UK film industry."
www.britishfilmcommission.org.uk
(IT/JP)
Solidmate Ltd Memory Card Hire London

Top Related Stories
Click here for the latest broadcast news stories.

29/06/2017
Future Film Skills – An Action Plan
The BFI has launched Future Film Skills – An Action Plan at the House of Commons alongside the Culture Secretary, Karen Bradley, and producer Barbara
08/08/2019
Rise Awards Shortlist Announced
Rise has revealed the shortlist for its first ever Rise Awards. The judges saw a selection of global nominations from women in a variety of roles acro
03/07/2019
Shortlist Announced For IBC Innovation Awards
From 6K to holographic projection and from esports to the FIFA World Cup, this year's 10 IBC Innovation Awards finalists show a clear trend towards gl
08/06/2010
UK Film Industry Substantial, Report Says
The UK film industry contributes a total of over £4.5 billion a year to UK GDP and more than £1.2 billion to the Exchequer, according to an independen
30/10/2008
Film Tax Relief Supporting UK Film Industry
New figures showing the success of the UK Government's film tax relief were published this week by Financial Secretary to the Treasury, Stephen Timms.
23/03/2006
UK Film Council welcomes new tax relief system for British film industry
The UK Film Council has welcomed the Government’s new tax relief system for the British film industry, which it says will help to consolidate its posi
24/07/2007
Film Industry Contribution To UK GDP Up 39% In 2006
The UK film industry contributed £4.3 billion to UK GDP in 2006, up from £3.1 billion in 2004, a 39% increase in two years according to an independent
17/11/2017
UK Studios: An International Success Story
It has often been said that Hollywood is the most recognisable film industry in the world, with hundreds of movies and television series generated eve
18/08/2000
UK TREASURY UNDER PRESSURE FROM FILM INDUSTRY
BRITISH filmmakers are putting pressure on the UK treasury to extend the 100 per cent tax relief concession on film making beyond 2002. Filmmakers say
17/06/2005
UK Film Council welcomes 'MOT' role for UK film production
The UK Film Council has welcomed the announcement of a ‘stocktake’ of film policy by Minister for Creative Industries, James Purnell, in a bid to see
27/06/2019
DPA Microphones And Wisycom Capture Audio On Netflix Film Paddleton
With a unique improvisational acting style at the heart of the Netflix original film, Paddleton, capturing audio was of paramount concern for Sound Su
12/01/2004
Record 'double-take' of £1.17bn for UK film industry
Several top-drawer big-budget films including the latest Harry Potter, a Bridgit Jones follow-up and a remake of 'Alfie' helped the UK film production
17/11/2009
Film Council 'To Steer Film Through Recession'
The UK Film Council has launched a three-month public consultation into the most significant revision of its activities since it was created in 2000.
12/05/2004
Expanded UK Film Centre promotes UK industry at Cannes
The UK Film Centre, which promotes the UK film industry in the international marketplace, will be providing an expanded range of business services in
02/11/2007
Film Festivals Receive Boost From UK Lottery
Film festivals across the UK will be part of a new £4.5 million drive to raise the profile of British film and give people of all ages and backgrounds