Film Tax Relief or Film Tax Credits
Film Tax Relief (FTR) or Film Tax Credits (FTC) were introduced in April 2007 by the Government. They have been the main driver for inward investment and led to a boom in the British Film Industry.
Creative Industry Tax Relief (CITR) allows qualifying companies to claim an enhanced deduction for certain production costs – or in many cases, a payable tax credit from HMRC – when calculating their taxable profits.
Qualfying for Film Tax Relief
For a film to qualify for Film Tax Relief or Film Tax Credits it must:
- pass the BFI cultural test or be an official international co-production
- be intended for theatrical release; and
- have at least 10% of its total production costs relating to activities in the UK.
Here at Nyman Libson Paul we have handled Film Tax Relief claims for films and production companies of all shapes and sizes and we are experts in the field.
Download our Film Tax Relief Fact Sheet
For more information about Creative Industry Tax Reliefs, download our Fact Sheets using the form below.
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