UK Looks at Tax Credits for Entertainment Projects

Category: News

The UK is coming up with some creative incentives to keep entertainment projects such as films, animations, video games, TV shows, and more within the country's borders.



According to published figures, the television, animation, and gaming industries employ approximately 150,000 people. While some companies and productions remain rooted on English soil for now, some have moved elsewhere to maintain a competitive edge. Elsewhere where the lure of generous subsidies is too good to pass up in this period when studios are struggling to keep their doors open.

To counter this problem, tax breaks were announced recently that will give the creative companies more freedom and will enable them to better compete internationally. As a result, the UK will be able to maintain its talent pool and its position as a leader in animation, video games, and high-quality television.

UK Chancellor George Osborne in his recent budget speech introduced the tax break of 25 percent to encourage development in the animation and game segments of the entertainment industry. The incentive would also pertain to high-value drama, like the hit Downton Abbey.

Presently the film industry offers a 20 to 25 percent break on projects filmed in the UK. If approved, the other sectors would enjoy similar status.



Other News

Next Limit Introduces RealFlow RenderKit 2014
23-Dec-2014
Luxion, 3D Systems Team Up to Enhance Visual Quality
22-Dec-2014
Build a Robot, Compete in CGTrader.com Challenge
22-Dec-2014
LAIKA and Focus Features In Production on Their Fourth Collaboration
22-Dec-2014
More News Headlines
Most Read