UK BUDGET Brown tweaks tax rules for film makers |
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Published
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Wed, 21 Mar 2007 16:49
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LONDON (AFX) - The UK government has tweaked the rules for companies producing films not intended for a cinema release.In this afternoon's Budget, the Treasury said the production houses will be allowed to opt out of the tax rules introduced for film companies last year.Last year, the government relaxed the regime for movie companies making films in the UK.Production houses spending 25 pct of a film's budget in the UK will be able to enjoy the new tax credit, compared with an earlier proposal for a 40 pct qualifying threshold.Under those new rules, films with UK production budgets of up to 20 mln stg are allowed earn a tax credit of 20 pct. For bigger budget films, the tax credit level is 16 pct.simon.duke@thomson.comsd/amCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Brown proposes new tax rebate rates for film makers 