Prime Focus World was proud to have a speaking opportunity at the BFC Film VFX/Post Production 'Familiarisation trip'. Managing Director, Post Production, Rowan Bray and SVP, VFX & View-D™ Production, Mathew Bristowe both gave an account of the capable beginning to end facilities Prime Focus have to offer in London, whether it be VFX or post production.
From 1 April 2014 the following enhancements to the UK Film Tax Relief have come into effect
Increased rate of relief for larger budget films:
The rate of tax relief for films with a qualifying budget of £20 million or over has been increased from 20% to 25% of the first £20 million of qualifying UK expenditure, with any excess qualifying UK expenditure still receiving a 20% tax credit
Reduction in the level of minimum UK expenditure:
The minimum UK spend threshold has been reduced to 10% from the previous 25%. This both makes the UK a more attractive co-production partner and allows further projects to take advantage of the UK’s award-winning VFX and post sectors.
Modernisation of Film Tax Relief qualification:
The Cultural Test has been modernised to align it with incentives in other member states and to support visual effects, post and wider film production. Films now need to score 18 out of 35 available points (not 16 out of 31, as under the previous Test).
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