Film makers offered improved tax breaks

Proposals being formally launched this evening, by Paymaster General Dawn Primorolo, Treasury officials, Lord Attenborough and other well-known film industry representatives, will from July 2005 allow film production to claim 20% tax relief on British films, regardless of whether they are filmed in the UK or overseas, providing the budget remains within £20m. Replacing Section 48 relief – which is due to expire as a tax break in July 2005 – the new rate offered will be 5% higher than that available under existing rules and increases the previous £15m claims boundary, which was previously...