Adsum can help you with your film tax credit. We take care of calculating it, submitting it, dealing with HMRC and recovering the film tax credit for you. PLUS, we can advance you the film tax credit the same day if needed.
UK film tax credits can be complicated, but they’re worth investigating if you need extra funding for your production. That’s because this government incentive allows production companies involved in pre, production and post-production activities, photography, and delivering the film, to claim film tax relief – and that can go a long way in getting your film over the finish line.
If you already know about film tax credits, then click below to get your advance now. Otherwise, read on to see how UK film tax relief can relieve the financial burden of your production and whether you’re eligible.
“The process with Adsum was really quick and straightforward. We requested a quote on Tuesday and the advance was in our account by the end of Thursday meaning we could pay our costs and continue with our next series of films. Who knows how long it would have taken if we waited for HMRC!”FILM TAX CREDITS ON A SHORT FILM SERIES
Film tax relief is a type of tax credit set up by the government to boost the UK creative industry. It’s designed to help film production companies reduce the amount of tax they have to pay or to claim a payable tax credit (i.e. more money coming to you).
There are a few (or a lot) of things your production company or film must do to qualify for film tax relief.
If your film and production company meets all the below criteria, then start your film tax relief claim with Adsum today.
UK film tax credits work by lowering the amount of corporation tax you must pay or, if your film makes a loss, by awarding you a tax credit worth up to 20%.
If you make a profit, the amount of tax you pay amounts to whichever is the lower of the following:
This can be complicated to navigate. Fortunately, we can help you figure out exactly what you need to do.
In order for your film to qualify for UK film tax credits, it needs to be certified as British by the BFI. This is done using the cultural test for film. The Adsum team can help you apply for this certification.
This is a points-based test with a total of 35 available. You need 18 to gain certification. The points are broken down and awarded as follows:
Up to 4 points are available for films set in the UK or a European Economic Area (EEA), up to 4 for lead British of EEA characters, up to 4 for British or EEA subject matter, and up to 6 points for dialogue recorded mainly in English or UK indigenous or EEA languages.
A total of 4 points are available for elements of the film that show British heritage, creativity, and diversity.
Up to 7 points are available for cultural hubs, broken down as follows:
A total of 8 points are available for using personnel who are UK or EEA citizens and residents. For each of the following, 1 point will be awarded:
