Film Production Tax Relief (Hansard, 23 March 2004)

HL Deb 23 March 2004 vol 659 c93WA 93WA

§ Lord Trefgarne
asked Her Majesty's Government:
Further to the Answer by the Lord Davies of Oldham on 4 March (HL Debs, cols. 769–771), whether they have anything further to add about film production tax relief. [HL1880]

§ Lord McIntosh of Haringey
The Chancellor of the Exchequer announced in the Budget on 17 March that Section 48 relief for low-budget British qualifying films, which is due to expire on 1 July 2005, will be replaced by a new relief for production expenditure. The relief will go directly to the film-maker and will typically fund 20 per cent of the budget, compared with the 15 per cent typically funded by Section 48.