The UK government is to introduce an indie movie tax credit for films that have budgets up to £15M ($19M), along with bringing in business rates relief for big studios and additional VFX relief.
From April 1, the new indie relief will be separate to the pre-existing film and high-end TV tax credit but both will fall under the new Audio-Visual Expenditure Credit system. The local industry has been calling for the move for months. Films will qualify if they pass a “new British Film Institute test.” Productions can make claims from April 1 2025 in respect of expenditure incurred from April 1 2024.
