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UK Praises Results Of High-End TV Tax Relief

by Robert Lee, Tax-News.com, London

28 December 2015


50 new television productions in the UK were supported by High-End TV tax relief in 2014-15, according to figures released by the Government.

To qualify for the relief, a production must pass a cultural test and be a drama, comedy, or documentary lasting longer than 30 minutes. At least 25 percent of the total production costs must relate to activities in the UK and a company must spend more than GBP1m (USD1.5m) on production costs per hour.

The Government said that since the relief was introduced in 2013, it has contributed nearly GBP92m to 90 British big-budget television programs. More than GBP820m has been invested into the "creative economy" by high-end production companies that could qualify for the relief.

Chancellor George Osborne said: "Through our tax relief the Government has been able to support the TV industry meaning record investment and a booming creative sector jobs market across the country."

TAGS: tax | investment | tax incentives | budget | United Kingdom | ministry of finance | tax authority | tax rates | tax breaks | revenue statistics

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