Lights, Camera, Action! 40% Business Rates Relief for Film Studios Rolled Out
Date: 2025-02-16 00:01
Source: UK News and Communications
The UK Government has announced a new 40% business rates relief for film studios to boost the UK’s film and television industry. The relief, which will take effect from April 2025, is expected to save the industry £100 million over the next five years.
The relief will be available to all film studios in the UK, regardless of size or location. To qualify, studios must be used for the production of films or television programs, and must meet certain minimum standards.
The announcement was welcomed by the film and television industry, which has been calling for business rates relief for many years. The industry says that the relief will help to reduce costs and make the UK more competitive in the global film market.
“This is a major victory for the UK film and television industry,” said Philippa Childs, CEO of the British Film Institute. “The business rates relief will help to make the UK a more attractive place to make films and television programs, and will create jobs and boost the economy.”
The relief is part of the government’s £1 billion Creative Industries Sector Deal, which aims to support the growth of the UK’s creative industries. The government has also announced a number of other initiatives to support the film and television industry, including a £250 million Film and TV Production Fund.
The business rates relief is a significant step forward for the UK film and television industry. It will help to reduce costs, make the UK more competitive, and create jobs. The relief is a testament to the government’s commitment to supporting the creative industries.
Lights, Camera, Action! 40% business rates relief for film studios rolled out
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