HMRC’s position on film tax relief

KEY POINTS

• A report by the Office for National Statistics shows a resurgence in UK film and television businesses.
• The UK film sector contributed £7.7bn to the UK economy in 2016.
• The British Film Institute has reportedly certified almost 2 000 films.
• Tax reliefs have been essential to the production of films and high-end TV productions.
• Are HMRC’s efforts to stamp out tax avoidance discouraging legitimate investment?
• To qualify as a ‘British’ production for tax purposes a cultural test must be passed.

As someone who has spent a career in the tax industry I am constantly surprised when I meet individuals who believe my profession to be devoid of drama. Granted it has little of the immediate danger faced by astronauts fighter pilots...