Tax Rebates & Refunds

TV shows and animations eligible for new government tax rebate scheme

December 6, 2012
Posted in Tax Rebates — Written by Chris

According to the Chancellor George Osborne’s recently announced Autumn Statement, many television and animation productions could soon be eligible for tax rebates of around 25 per cent.

The measures, which are expected to be published in draft legislation by the Treasury soon and made part of the Finance Act in April 2013, will give qualifying productions and programmes the chance to receive a tax rebate totalling a quarter of their total production budget.

Only certain productions, however, will be eligible for the new tax rebate scheme, and the Treasury has not yet revealed how large a budget a programme will need to have before it can qualify for the scheme. A figure of £1 million an episode has been discussed, but not yet confirmed.

The trade association Pact, the Producers Alliance for Cinema and Television, is understood to be very pleased with the decision, which will help to relieve the financial pressures on programme makers and stimulate new types of productions. Pact chief executive John McVay expressed satisfaction with the 25% figure for tax rebates, and also said:

“We’re really pleased the government has listened carefully to the industry,”

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