UK Expected to Increase Film & TV Credits

A new article posted at lexology.com discusses the proposed legislation in the UK to increase the current 25% tax rebate to a 34% expenditure credit on film and TV projects. If passed, the new tax credits would be available starting in 2024.

The article explains that film financing is necessary for film production and distribution and can be done through various methods. It lists some of the traditional methods, including bank loans, equity investment, and gap financing, as well as newer methods like crowdfunding and cryptocurrency.

The article also points out the importance of film festivals in securing financing, as they can provide exposure for a film and attract potential investors. In addition, the article emphasizes the importance of understanding tax incentives and credits available to filmmakers to help reduce production costs.

However, the article also cautions that film financing comes with risks, such as the fierce competition for funding and the unpredictability of box office success. The article advises filmmakers to develop a sound business plan and to work with experienced professionals to help mitigate these risks.

Overall, the article provides valuable information for filmmakers and anyone interested in the film industry, including the various methods of film financing, the role of film festivals, and the risks and challenges associated with film financing.