The government is consulting until 2 July 2013 on proposals for further measures to support the visual effects industry through the tax system. These include adapting the film tax relief scheme to offer either an enhanced payable tax credit or a lower minimum expenditure requirement for visual effects work. The consultation also invites suggestions for alternative options.
A Taylor Wessing client briefing on the consultation notes: ‘The government’s approach to this consultation suggests that it has not yet decided on the level of support for the industry, for example, whether support should be extended to television and video game development ... In any event, it is clear the government’s efforts to support the industry will be limited by fiscal and economic concerns as well as a need to secure State aid approval’
The government is consulting until 2 July 2013 on proposals for further measures to support the visual effects industry through the tax system. These include adapting the film tax relief scheme to offer either an enhanced payable tax credit or a lower minimum expenditure requirement for visual effects work. The consultation also invites suggestions for alternative options.
A Taylor Wessing client briefing on the consultation notes: ‘The government’s approach to this consultation suggests that it has not yet decided on the level of support for the industry, for example, whether support should be extended to television and video game development ... In any event, it is clear the government’s efforts to support the industry will be limited by fiscal and economic concerns as well as a need to secure State aid approval’
