UK’s Hunt Announces Tax Relief for Film and Creative Industries

The UK government is announcing a package of incentives for creative industries, including a new tax credit for UK independent films with a budget of less than £15 million, Chancellor of the Exchequer Jeremy Hunt says in Spring Budget Statement.

• Govt also committed to providing more tax relief for visual effects in film and high-end TV, Hunt adds
  • Will increase the rate of tax credit by 5% and remove the 80% cap for visual effects costs in the Audio-Visual Expenditure Credit
• Additionally, £26m of funding will be provided to the National Theatre to upgrade its stages
• “I particularly want to ...