TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

State Aid Approval for the UK's New Film Tax Relief

The European Commission has now given State aid approval for the UK's new film tax relief.

The film tax relief has now been approved as a State aid by the European Commission, subject to changes to the definition of what is a British film. Once these changes have been made, the new relief will be put into effect.

Legislation reforming the taxation of the film industry, and introducing a new tax relief for the production of British films, is in Chapter 3 of the Finance Act 2006 which received Royal assent on 19 July 2006.

There is a special film page on the HMRC website which provides the latest information on the new tax relief for British film production and on the taxation of the film industry more generally. The page is reproduced at Section 2.10.