Lights, Camera, Action! 40% Business Rates Relief for Film Studios Rolled Out
February 16, 2025
The UK government has announced a significant 40% business rates relief for film studios, effective from April 2025. This measure aims to support the growth and development of the UK’s film and TV industry, which has been facing challenges due to rising production costs.
The relief will be available to qualifying film studios that are used for the production of films, television programs, and other audiovisual content. To qualify, studios must meet specific criteria, including:
- Being located in England
- Having a minimum floor area of 4,000 square meters
- Being used for the production of at least 50% of their output by UK-based companies
The relief will be applied through a new class of rateable value for qualifying film studios, which will be set at 60% of the studio’s market value. This means that studios will be eligible for a 40% reduction in their business rates.
The government estimates that the relief will save the film and TV industry around £140 million over the next five years. This is expected to help create jobs, boost investment, and support the production of high-quality content in the UK.
Chancellor of the Exchequer Rishi Sunak said: “The UK is a global leader in film and television production, but our film studios need support to compete with those in other countries. This new relief will help to create jobs, boost investment, and support the production of high-quality content in the UK.”
The announcement has been welcomed by the film and TV industry. Producers Alliance for Cinema and Television (PACT) CEO John McVay said: “We are delighted that the government has listened to our concerns and introduced this relief. It will make a real difference to the UK’s film and TV industry, helping us to compete with other countries and create jobs.”
The 40% business rates relief is part of the government’s wider support for the creative industries. Other measures include:
- A £500 million Film and TV Production Restart Scheme
- A £15 million Film and TV Skills Fund
- Tax incentives for film and TV production companies
These measures are designed to help the UK film and TV industry thrive in the years to come.
Lights, Camera, Action! 40% business rates relief for film studios rolled out
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