Chancellor announces further support for television production in the UK
The UK’s attractiveness to both international and domestic producers has been further enhanced today as Chancellor of the Exchequer George Osborne announced in the Autumn Statement the introduction of a Children’s Television Tax Relief.
The relief will bring live action children’s television in line with film, animation and high-end television, for which the UK already offers generous tax reliefs.
The Chancellor also announced the Government’s intention to consult the production industry on a potential enhancement to the UK High-end Television Tax Relief. The enhancement would reduce the minimum UK spend requirement from 25% to 10%, as well as modernising the Cultural Test, bringing it in line with the UK Film Tax Relief.
The High-end Television Tax Relief has been a huge success since its introduction, attracting major projects such as 24: Live Another Day (Twentieth Century Fox Television) and Outlander (Starz/Sony Pictures Television/Left Bank) to the UK, allowing them to benefit from world class television talent, crew and infrastructure available throughout the country.
Adrian Wootton, Chief Executive of the British Film Commission and Film London, said of today’s statement: “We are delighted by the Chancellor’s intention to further enhance the UK’s Creative Sector Tax Reliefs. The country has seen significant benefits thanks to the film, high-end television and animation reliefs, and extending them to include live-action children’s programming is a logical step”.
“We also welcome the Government’s planned consultation on the High-End Television Tax Relief, which will further enhance the UK’s offer to international clients, and attract more investment to the UK. We look forward to working with government and industry partners through the consultation process”.
The Children’s Television Tax Relief will be effective from 1 April 2015, subject to receiving EC State Aid Approval.