From 17 February 2025 local authorities can begin introducing 40% business rate relief schemes for film studios in England. This was part of a package of further support for the UK’s creative industry sectors announced by the previous government at Spring Budget 2024. The current government has confirmed that the relief will be available until 2034 backdated from 1 April 2024 (effectively a ten-year period).
Local authorities will implement the relief automatically for qualifying properties and it will be inclusive of transitional relief ensuring that final bills do not exceed 60% of the gross bill.
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From 17 February 2025 local authorities can begin introducing 40% business rate relief schemes for film studios in England. This was part of a package of further support for the UK’s creative industry sectors announced by the previous government at Spring Budget 2024. The current government has confirmed that the relief will be available until 2034 backdated from 1 April 2024 (effectively a ten-year period).
Local authorities will implement the relief automatically for qualifying properties and it will be inclusive of transitional relief ensuring that final bills do not exceed 60% of the gross bill.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
