20/03/2013 - Tax reliefs on the way for animation, VFX and television sectors

British Chancellor for the Exchequer George Osborne (photo) said in his budget speech on Wednesday that the government would be launching a public consultation to provide further support for the VFX industry through the tax system.

In response, Adrian Wootton, Chief Executive of the British Film Commission and Film London said, “On behalf of the British Film Commission we are delighted that, in addition to the incoming Creative Sector Tax Reliefs, the Chancellor has today announced further support for the UK’s creative sectors, and in particular the VFX industry. There is no disputing the UK is a centre of VFX excellence. These new measures will ensure that we can continue to compete globally on a level playing field; and continue to attract the biggest and most technically challenging film and television projects to the UK. Public support for the creative industries has a successful legacy in the UK with the current Film Tax Relief delivering a return of £12 for every £1 invested by Government. This is further evidence of the Government’s commitment to and understanding of the long term potential and value of the UK’s Creative and Digital Sectors in terms of inward investment and jobs.”

Ed Vaizey, Minister for Culture, Communications and Creative Industries, said, “Today’s package of measures, announced in the Budget, recognises the significant economic contribution made by our highly skilled creative content industries. It demonstrates Government’s ongoing commitment to supporting innovation and investing in talent to help keep the UK ahead of the game when it comes to creative excellence.”