April to Start UK Tax Relief for VFX Companies

Category: News
April is tax time in the US. But in the UK, this April will signal tax relief, at least for those working in the UK entertainment industry.

A few months ago, George Osborne, Britain's chancellor of the exchequer (akin to the US treasury secretary), introduced the tax incentive for big-ticket British drama series while uncovering the nation's new budget to the House of Commons. When he did so, he also announced a plan for tax relief to the animation and video game industries there starting in April 2013. His reasoning was that the tax relief would play a big part in keeping the UK's visual effects industry competitive with the rest of the world.

The goal of the incentive is to maintain local animation within the country. Osborne is also hoping to attract top international investors-naming Disney and HBO as among those the government would like to see producing some top shows in the UK.

Those qualifying under the relief would receive a 25% tax break.

A video game tax relief is also proceeding forward.



Other News

New Family Members: Cinesite and Image Engine Announce Merger
6-Jul-2015
ACM SIGGRAPH Names 2015 Award Recipients
1-Jul-2015
PipelineFX Offers Subscription Pricing for Qube
1-Jul-2015
Vicon Introduces Intelligent, New Camera Platform
1-Jul-2015
More News Headlines
E-Newsletter Signup
Keep up with the latest CG industry news by subscribing to the CGW newsletter, produced bimonthly with special editions throughout the year. Join Our E-mail List Now!
Most Read