State aid: Commission approves revised UK film tax incentive scheme

Author:Jack
Date:Wed, 22/11/2006 - 19:26
Category: >

Hi Everyone,

I'm pretty busy right now so I'm just gonna rip this from the press release...

The European Commission has today given State Aid approval to the new film tax reliefs. A notice was posted on the European Commission website today.

The new tax relief will mean:

  • For films that cost up to £20 million, the Film Production Company (FPC) will be able to claim an enhanced deduction of 100% with a payable cash element of 25% of UK qualifying film production expenditure.
  • For films that cost over £20 million, the FPC will be able to claim an enhanced deduction of 80% with a payable cash element of 20% of UK qualifying film production expenditure.
  • The minimum UK spend threshold for qualifying films will be set at 25%.

Read the full press release

(delicious | digg | reddit | technorati)

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