29 July 2005
The Reform of Film Tax Incentives: Promoting the sustainable production of culturally British films
The Government reviewed the current tax incentive for small budget films last year and published its proposals for a replacement in September 2004. The Chancellor then announced at the 2005 Budget that the large budget film tax incentive would also be reviewed with the intention of replacing both incentives with a new regime in 2006 that will ensure that tax incentives for all films are provided on a coherent and consistent basis.
The purpose of this consultation is to set out proposed new tax incentives for the production of culturally British films with the objective of ensuring that they meet their core aim of promoting sustainable production of culturally British films in more effective ways. The proposed relief also reflects the need to comply with EU State aid requirements in relation to cultural support. The closing date for responses is 21 October 2005.
Responses should be e-mailed to films-team@hm-treasury.x.gsi.gov.uk
Please ensure that all responses provide details of the organisation the views of which are being represented.
Unless respondents indicate otherwise, it will be assumed that they have no objection to their response being made public.
Paper copies of this document may be obtained, subject to availability, from the Public Enquiries Unit: public.enquiries@hm-treasury.gov.uk