Adrian Wootton, Film London and British Film Commission Chief Executive says that it is the competitive tax relief – available to produce films, high end TV, Animation, Children’s programmes and Video games that qualify as British and spend a minimum of 10% of their budget in the UK that forms the “Anchor” of the industry’s offering. Our tax relief is designed in such a way that it is very flexible, efficient and dependable. It is enshrined in law. It is not affected by political change or Brexit.
A British Film Institute (BFI) Report published in February 2019 shows that in 2018, UK Cinema Admission reached their highest level since 1970 achieving a total box office of $1.8bn (£1.39bn).
The appetite for high quality content shows no sign of slowing down.
The spend on high end TV and film production in the UK in 2018 reached $4bn (£3.1bn), the second highest year on record after 2017’s $4.2bn (£3.28bn). This is broken down $2.49bn (£1.92bn) spent on film production and $1.52bn (£1.17bn) spent on TV production.
The UK Tax Credit regime has indeed given a great boost back to the industry.