San Francisco, California
London, United Kingdom
Please note that this event is strictly for Production Guild members and affilites only
Essential update about the creative industries tax reliefs
Evening seminar with drinks and canapés for Production Guild members
At Saffery Champness, London, WC1R
On Tuesday 31st March 2015 6.30pm – 8.30pm
Following the Chancellor's Budget on Wednesday 18 March 2015 where changes to the film and high end TV tax reliefs were made, and the new Children’s television tax relief introduced - we are running an essential seminar for all Production Guild members, led by affiliate company Saffery Champness.
The Production Guild would like to encourage all our members to attend because it will update you about the new and improved creative industries tax reliefs - outlining how they can benefit your production, as well as looking at taxation issues for cast and crew.
This seminar will also enable you to understand the state of our industry and what the UK has to offer in the international marketplace.
Full details about the updated and new tax reliefs can be found at the bottom of this page.
The seminar will cover:
- film tax relief
- high-end TV and animation tax relief
- children’s TV tax relief
- taxation issues for in front of and behind camera
Presentations will be from Nigel Burke, Kathy Johnson and Tim Gillett, are suitable for all PG members and will unclude:
- UK witholding tax implications of paying expenses and perks to non-resident talent.
- General update of latest witholding tax issues
- Update on issues for behind camera personnel – including taxation and social security for the internationally mobile.
The seminar is being held at:
75 Red Lion Street
London WC1R 4GB
On Tuesday 31st March 2015 6.30pm – 8.30pm
The presentation will be followed by networking drinks and canapés.
Creative Industries Tax Reliefs
Film tax relief
Budget 2015 announces that the government will increase the rate of film tax relief to 25% for all qualifying expenditure. In Autumn Statement 2013, the government removed the cliff-edge that existed in the film tax relief scheme by setting the rate at 25% for the first £20 million of qualifying expenditure for both large and small budget films and set out an ambition to increase the rate to 25% for all expenditure. This change fulfils that ambition by removing the distinction between small and large budget films completely. The change will be legislated for in Finance Bill 2015, to take effect on the later of 1 April 2015 or the date of receiving State aid clearance from the European Commission.
High-end television tax relief
In Autumn Statement 2014, the Chancellor announced that the government will explore with industry whether to change the high-end TV tax relief to bring it in line with film tax relief, by reducing the minimum UK expenditure requirement from 25% to 10% and modernising the cultural test. Thank you to all of those who took the time to submit views on this both in writing and through meetings. The responses were in general strongly in favour of these changes, and today the Chancellor announced that they will go ahead and will be legislated for in Finance Bill 2015. To ensure that there remains consistency between the television tax reliefs, the reduction to the minimum UK expenditure requirement will also apply to the animation and children’s TV tax reliefs.
Following discussions with the Commission we will not be required to further notify these changes, so they can take effect from 1 April 2015. As with other creative sector tax reliefs, changes to the cultural test will be made through secondary legislation, laid after Royal Assent to the Finance Bill. We expect the cultural test to be in force in the summer and claims for tax relief can then be submitted to HMRC, and backdated to 1 April.
Children’s television tax relief
As announced in Autumn Statement 2014, the government will introduce a new tax relief for children’s television, which will take effect on 1 April 2015. During the consultation on draft legislation, some of you raised questions about the impact of the exclusion of programmes which are competitions or game shows. At the Budget, the government announced that the new relief will now also cover these types of children’s programmes.
The cultural test for children’s TV will also be legislated for through secondary legislation, laid after Royal Assent to the Finance Bill. We expect the cultural test to be in force in the summer. Claims for tax relief can then be submitted to HMRC, and backdated to 1 April.
Skills Investment Fund
Budget announces further funding of £4 million to extend by two years the government’s contribution to the existing Skills Investment Fund, that supports training and skills development in the film, TV, video games, animation and visual effects sectors.
When & Where
The Production Guild of Great Britain
Based at Pinewood Studios, The Production Guild represents the professional interests of senior film and TV production professionals both within the United Kingdom as well as overseas.
The Production Guild is one of the leading film and television industry bodies to provide recognised training courses and seminars, many of which are open to non-members and the wider industry.
The Production Guild also constantly works closely with a wide range of other industry bodies and provides strong support to its membership, taking an active role in negotiations for new industry legislation and agreements and keeping in regular contact with production companies, broadcasters and major US studios regarding the professional availability of its members.
For further information visit www.productionguild.com