UK film tax credits extended to 2015 - PSNEurope

UK film tax credits extended to 2015

The UK government has extended the tax break scheme for the British film industry until December 2015, which could be a significant benefit for the UK’s audio post-production sector, writes Kevin Hilton.
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The UK government has extended the tax break scheme for the British film industry until December 2015, which could be a significant benefit for the UK’s audio post-production sector, writes Kevin Hilton. In 2009/10 tax relief gave approximately £95 million of support, which was reflected in business for sound houses specialising in film work. Under the scheme tax relief is given to “culturally British films” but it took some time to come into full effect, meaning that the industry as a whole has only been feeling the impact of the assistance in recent years. The Pinewood Shepperton studios group has audio post suites as well as sound stages. Its chairman, Lord Grade, comments on the extension, “We are delighted by today’s announcement that the Government has extended its film tax relief until the end of 2015. This decision will deliver certainty for the UK’s talented filmmakers and will provide the platform for growth, investment and jobs in a growing segment of the economy.” Goldcrest Post Production, which houses audio dubbing and sound editing departments, has worked on several productions that were supported by tax relief, including Wuthering Heights and The Iron Lady. Chief executive Keith Williams (pictured) is positive about the extension but feels it should also be applied to animation productions: “Goldcrest has worked on a number of animated projects this year, including Arthur Christmas and The Gruffalo’s Child, and the quality is fantastic but the tax incentives offered by other countries such as Canada are just too tempting for producers and, unless we act now, we will lose our incredibly talented animation. While we commend this decision [to extend the tax credits, we also feel ‘could do better’.” www.culture.gov.uk

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