New report calls for tax incentives to protect British film and high-end TV production

Following the call from MPs to introduce a levy for streaming platforms, the Culture, Media and Sports Committee has published a report that urges UK government to implement measures for producers in the British film and high-end TV industry and to safeguard British content.

The Committee makes recommendations on tax incentives, including a new print and advertising tax credit, supporting workforce, independent cinemas, and meeting challenges posed by AI.

Stephen Bristow, partner in the Film, TV & Video Games team at Saffery, said:

“This report, and set of recommendations, published by the Committee is a welcome intervention. The Committee has shone a spotlight on the huge contribution the film and TV sector makes to the UK economy, but there is still much untapped potential and a need to move quickly to ensure the UK retains its competitive edge on the world stage.

“A supportive tax system is a key driver of investment in the UK market, and having worked with the Film Distributors Association to make the case for incentives that support the wider distribution of UK independent productions, something the industry has been calling for some time, it is hugely pleasing to see the Committee take forward the proposal for the creation of a new prints and advertising tax credit. If this new tax credit is taken forwards by the government, it will benefit all parts of the industry.

“The government has shown a willingness to continue investing in the film and TV industry as a real driver of economic growth – including with the expanded VFX tax credit which was announced in the 2024 Budget – and so it is to be hoped that a similar appetite is shown for the Committee’s recommendations.”  

You can read the report in full here and more about the industry’s response, including Stephen’s commentary, in Screen Daily.