BFC Promotes TV Tax Relief in US
17 April 2013
The British Film Commission (BFC) presented two key informative seminars on the UK’s new high-end television tax relief for the US TV industry. This was on the back of UK government’s new tax incentive being instated on 1 April 2013, following approval from the European Union.
The new tax relief is designed to ensure the UK is globally competitive for big budget international television projects and also to ensure domestic high-end television productions are shot in the UK. Projects eligible for the tax relief, which will provide a 25 percent tax break on qualifying UK expenditures, must have a minimum core expenditure of £1 million per broadcast hour.
The BFC has been tasked to promote the new fiscal incentive internationally. As such, on 12 April in Los Angeles and 15 April in New York, an expert panel gave US producers, executives and agents an overview of the opportunities offered in the UK production industries. Both events were very well received.
With such prestigious and successful television series including Game of Thrones, Da Vinci’s Demons, Downton Abbey, Sherlock and Torchwood filming in the UK, timing is perfect for a discussion of how the country can be further employed as a home for high-end television production.
“The BFC events in LA and NY are a crucial part of our strategy to promote the new tax relief internationally,” said Adrian Wootton, Chief Executive of the British Film Commission and Film London. “The new incentives are fantastic news for the UK and from the hugely positive reaction we had in the US, I hope we will be welcoming new productions to our shores very soon.”
More information on the UK High-end television Tax Relief can be found here