A Boost for Low Budget Filmmakers

The UK's film industry is getting a huge boost thanks to changes in taxation announced by The UK Film Council. The latest move by the Government will mean low-budget productions made after July 2005 will qualify for relief from tax for the entire budget.

The new legislation will only apply to production companies, not individuals, and it'll be crucial support for British Films with production expenditure of upto £20 million. It comes after lengthy discussions between the Department for Culture, Media and Sport, the UK Film Council, and industry representatives including PACT and BSAC.
Another benefit of this latest change to the rules is that, unlike the former Section 48, it'll be a permanent measure with no expiry date. Chief Executive Officer of UK Film Council, John Woodward, said: "Film is a £5 billion a year British industry and a rich and popular part of our culture, and this is a welcome recognition of its economic and creative importance."
The film and video industries now employ a record 57,429 people. For the full story visit www.ukfilmcouncil.org.uk/news

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