As anyone involved in the creative industries will know, filming is an expensive business. However, there is help at hand for those in the professional film business, through the government’s film tax relief initiative. Film tax relief (FTR) can save your business a significant sum of money. Applicaitons can be made regardless of the size of your overall budget, even small productions can benefit.
Film tax relief is part of a relief scheme by the British government for the creative industries. The relief is aimed at helping to ease the cost of filming for many professional entities making films, TV shows or video games for British consumption.
All British film production companies that qualify for film tax relief can claim a tax rebate of up to 25% of their qualifying expenses incurred in the UK. The amount of tax relief that your company is awarded is capped at 80% of your core expenditure.