Budget 2013: TV companies hail George Osborne as he switches on help for drama
Thursday 21 March 2013
TV production companies have hailed George Osborne’s decision to give almost £200 million of tax breaks to high-end drama by 2018.
The new rule comes into force on April 1 and the Budget forecasts that once the scheme gains momentum, TV producers will claim tax benefits worth about £60 million a year in 2017 and 2018. Productions “must be certified culturally British” by the Department of Culture in order to get tax relief.
“The new TV tax credit is a major shot in the arm for the industry,” said Simon Vaughan, chief executive of London production firm Lookout Point, which backed ITV’s Titanic and is behind the BBC’s forthcoming War and Peace.
“Suddenly shooting at home has become a real option. In recent years that simply wasn’t the case. I think we will see more British projects staying at home as well as an influx of foreign production choosing the UK.”
Ireland, Canada and South Africa have wooed talent with big tax breaks in recent years.
The computer games industry was disappointed by the Budget, which admitted planned tax breaks have been delayed as the European Commission is carrying out a “cultural test” consultation.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Men behaving badly: Urinating while standing, 'manspreading' and the gendering of selfishness
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...