U.K. Production incentives increased to 25% for all movies filming in England.
According to reports, the European Union is enhancing their U.K. Film Tax Relief. The changes mean that all British movies can receive a rebate of 25%.
Following the changes, British films of all budget levels can apply for the 25% tax break. Previously on the first $30 million on big-budget movies would qualify for the higher rate, with the remaining earning 20%. The new rate will apply to all feature films in production or filming after April 1, 2015.
Adrian Wootton, chief executive of the British Film Commission and Film London, said: “This is great news for the film industry and for the wider U.K. economy. Much has been written about the benefits of global filming incentives, and the U.K. Film Tax Relief is exceptional in combining a generous financial incentive with transparency, inclusivity and reliability. When you couple this with the U.K.’s world-class talent, cutting-edge infrastructure and stunning locations you have a truly unbeatable offer, and one that creates thousands of U.K. jobs and generates billions for the country’s economy.”
There are several major motion pictures currently filming in the U.K. including Disney’s live action version of Beauty and the Beast, Lucasfilm’s Rogue One: A Star Wars Story and Warner Bros. Harry Potter spin-off Fantastic Beasts and Where to Find Them.
