Posted by admin - August 24, 2015 12:01 pm British film industry to receive further tax breaks

Plans by the Government to extend tax breaks for the production of films in the UK have now been approved by the EU. Film production companies will now be able to claim tax relief of 25% towards production costs.

George Osborne said of this confirmation, “These tax credits that support both film and TV production, create £2bn worth of business for Britain”. He also lauded the tax credits as creating many thousands of jobs not only in film and TV production but also in supporting industries such as costume and set design.

The scheme is also to be backdated to April 2015.