Government Support For British Film In Spring Budget

6 March: The government announced a new interventive motion that will see UK film productions with a budget of up to £15m receive a 53% expenditure credit (equating to a tax relief of approximately 40%), a move that will really help independent films and rising stars in the industry.

“The support for independent filmmaking announced by The Prime Minister and Chancellor is game changing. It will ensure that our screen industry will continue to thrive by giving opportunities to a diversity of new talent both on and off the screen for future generations of filmmakers,” said Barbara Broccoli.

Other measures include a 40% relief on gross business rates for eligible film studios in England until 2034, funding for an extension at the National Film and Television School, and a 5% increase in tax relief for visual effects costs across film and TV projects under the Audio-Visual Expenditure Credit (AVEC) with an exemption on the AVEC’s 80% cap on qualifying expenditure.

Image: Young people on set as part of Into Film’s filmmaking programme.