TV Coalition event celebrates success of UK TV Tax Relief
The resounding success of the UK High-end TV Tax Relief, introduced last April, was celebrated this morning at an event held at BAFTA by the TV Coalition and games industry body UKIE. The event, which was attended by Chancellor of the Exchequer George Osborne amongst other key industry figures, also launched a major tax incentive to encourage greater investment in the UK games industry which will aim to replicate the other creative sector tax reliefs. The British Film Commission received praise at the event for its contribution to the success of the High-end TV Tax Relief.
The economic and cultural impact of the High-end TV Tax Relief to date was revealed in detail at the event:
• There have been 38 applications for the relief
• £13m has been spent in the UK by the five productions to have received final certification thus far
• 22 productions have interim certification with a projected total UK spend of £130m
Inward investment productions have played a major role in the relief’s success, with universally recognisable programmes such as HBO’s Game of Thrones and 20th Century Fox Television’s 24: Live Another Day choosing to make the UK their production base.
Iain Smith, Chairman of the British Film Commission and producer of 24: Live Another Day, was in attendance and was quick to highlight the boost inward investment titles such as the Keifer Sutherland-starring thriller give to the UK: “We will have employed a core crew of 130 for the duration of the shoot… we will have employed around 150 individual UK based actors across the series [and] around 3,500 daily extras by the end of the series”
Adrian Wootton, Chief Executive of the British Film Commission and Film London said “The High-end Television Tax Relief has allowed the BFC to promote the UK’s excellent talent, crew and facilities to a new international client-base, as well as creating exciting opportunities for our domestic industry and the Animation Tax Relief is also making an impact on the UK’s innovative and award-winning animation sector. We look forward to working with the wider creative industries to secure similar results for the games industry.”
The High-end TV Tax Relief looks set to continue to help the UK to be a global hub for TV production, with major inward investment series such as Company Pictures and Playground Entertainment’s Wolf Hall and BBC Worldwide’s Da Vinci’s Demons both shooting here later in the year.