Film Production Tax Relief (FPTR)

Film Production Tax Relief is similar to Television Production Tax Relief butspecifically for films. A film production company is the company that makes the film at a manufacturing level.

Claiming a relief from HMRC


There are a couple of similarities between Film Production Tax Relief and Television Production Tax Relief, most notably the British Film Institute needing to confirm it as ‘British’, and at least 10% of the total expenditure relating to activities in the UK. The film in question must also be intended for theatrical release, i.e., it must be available in cinemas for the public.


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WR Partners has extensive experience in claiming back valuable tax relief for the creative sector.

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Who qualifies for FPTR?


With Film Production Tax Relief, expenditure qualifying for enhancement i.e. ‘core expenditure’ includes expenditure incurred on, pre-production, principal photography and post-production. In addition to the costs incurred, the company must also be responsible for pre-production, principal photography, post-production, and delivery of the completed film.

What is the benefit of FPTR?


The benefits of Film Production Tax Relief are very similar to Television Production Tax Relief, with the additional deduction being the lower of 80% of total expenditure or the amount of core expenditure incurred in the UK. If a company is making a loss, a 25% payable tax credit can be claimed on some or all the loss.

FAQs

Where can I get tax advice?

Our tax consultancy team at WR Partners is able to provide tax advice on a wide range of taxes.

What is tax advice?

Tax advice can cover income tax or corporation tax advice on your business profits as well as VAT on business transactions. It can include capital gains tax or stamp duty land tax advice on disposing of a property as well as inheritance tax when you pass assets on to others.

Is tax advice confidential?

Absolutely – we never share tax advice provided to our clients with third parties unless the client specifically requests that we do so.

Can I claim financial advice as a tax deduction?

That will depend on the nature of the advice – there is no hard and fast rule, unfortunately.

How do I work out VAT?

Broadly speaking, VAT is 20% of your taxable supplies. In your VAT return, you can deduct 20% of the associated input VAT and the result is the amount owed to or from HMRC.

What are the types of property tax in the UK?

There are many different types of taxes on property. There are corporate taxes if the property is held by a company, such as corporation tax and the annual tax on enveloped dwellings. There are individual taxes such as income tax on rental profits and capital gains tax if a property is disposed of. There are also transaction taxes (SDLT, LTT or LBTT depending on where the property is in the UK).

Is there a difference between English and Welsh tax systems?

For income tax, the Welsh Government is able to vary the income tax rate to a point. To date, they have chosen to keep the same rate as for taxpayers in England. This means that Welsh taxpayers should identify which country they are paying tax in, in order to pay to the right authority. This can be done through your PAYE code but also it is declared in your self-assessment tax return. There are also differences between the English Stamp Duty Land Tax and the Welsh Land Transaction tax.

How do I reduce my tax?

There are a variety of ways to mitigate a tax charge. Depending on your circumstances this might be by claiming a particular relief or expense against your taxable income or reducing the tax you pay because some types of income or gains attract lower tax rates.

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