There are several factors that make the UK attractive to film makers, one of which is UK Film Tax Relief, a favourable tax incentive which is available to British qualifying films of any budget level.
Alliotts Media team are experienced in applying for the incentive, over the last three year we’ve successfully applied for, and secured, over £40m in film tax refunds on behalf of our clients.
We’ve noticed a trend in the common reasons why there are delays in having a claim approved by HMRC. So, we’d like to help you avoid some of the these pitfalls and potential delays to your claim for film tax relief by sharing our experience with you:
The term ‘theatrical release’ means exhibition to the paying public at a commercial cinema.
You’ll need to provide proof of this intention which could include the following:
a. Any documentary evidence which supports that the production was intended for theatrical release eg, this could include, but is not limited to, a contract with a venue and/or any emails or correspondence showing an intention to seek a contract to present the film in a cinema.
b. Confirmation of when filming will commence.
Details of any loan agreements and/or investment agreements
Many film makers are time pressured and decide to hand the application process over to professionals who can take the administrative burden away while then work on their productions.
If you need help in making a claim for Film Tax Relief please contact us for advice.