Britain rolling out the red carpet for film-makers to make blockbuster films

This is good news for investors who would like to invest in blockbuster movies like ‘Gravity’ and ‘Avengers: Age of Ultron’.
Britain is offering incentives to film-makers to make more blockbuster films in the UK because its plans to increase tax breaks have been approved by the European Union.
The measure had first been announced in Chancellor George Osborne's 2015 Spring Budget. It gives film and TV productions 25% off their tax costs if they then invest the funds back into their projects. In other words - on a film costing £40m, there would £1m in tax relief.
This has been reported in news.sky.com dated 21 August 2015.

Tax breaks for British productions had been introduced several years ago but, under the new policy, it will raise the percentage films can claim back under tax relief. Previously the 25% rate only applied to the first £20m of a production's budget – that is now being extended to cover all tax paid on a project regardless of budget and size. To qualify for the tax breaks a film must be considered a British production or co-production. This means it has to pass a cultural test run by the Department for Culture, Media and Sport (DCMS) and spend a minimum of 10% of its budget in the UK.
The move would give a boost to an industry that has already brought in billions of pounds of investment and hundreds of jobs to Britain.
(Image curtesy wikimediacommons.org)

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