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Almost 1,400 movies have become eligible to claim film tax relief since its inception in January 2007 to buoy UK cinema, according to newly released HMRC figures.
Of 1,390 productions, 1,050 have made 1,900 claims for a total of £1.1bn, with 1,700 claims having so far received £995m between them. The Revenue data shows that 96% of payments were made within six months of claims being received by the taxman.
Almost 1,400 movies have become eligible to claim film tax relief since its inception in January 2007 to buoy UK cinema, according to newly released HMRC figures.
Of 1,390 productions, 1,050 have made 1,900 claims for a total of £1.1bn, with 1,700 claims having so far received £995m between them. The Revenue data shows that 96% of payments were made within six months of claims being received by the taxman.
In the period from January 2007 to 5 April 2013, total production expenditure by movies claiming the relief was £9.8bn, of which 72% was incurred in the UK. Production expenditure on large-budget films averaged £86.6m a film, and £2.3m for limited-budget productions.
Just over ten percent of claims (195; totalling £727m) were made by movies with budgets of £20m or more, while 1,700 claims, worth £375m, were made by limited-budget films.
Tax credit payments to large-budget productions came to £66m, and to £33m for limited-budget movies.
