A government proposal to introduce a 25% tax credit on all qualifying expenditure for the UK film industry has been approved by the European Commission under state aid rules. The scheme was announced as part of the March 2015 Budget. Previously the rate was 25% for the first £20m of qualifying expenditure and 20% for spending above that threshold. The film industry is worth £1.4bn to the UK economy. See www.bit.ly/1EH3ARH.
A government proposal to introduce a 25% tax credit on all qualifying expenditure for the UK film industry has been approved by the European Commission under state aid rules. The scheme was announced as part of the March 2015 Budget. Previously the rate was 25% for the first £20m of qualifying expenditure and 20% for spending above that threshold. The film industry is worth £1.4bn to the UK economy. See www.bit.ly/1EH3ARH.
