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Budget 2015: Tax break for high-end drama

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Television production companies and broadcasters are set to benefit from a lower tax relief threshold for high-end drama, thanks to plans set out in the Budget 2015 by the chancellor, George Osborne.

As part of the Budget, Osborne revealed that productions where expenditure for pre-production, principal photography and post-production accounted for upwards of 10% of the production budget would be elegible for relief. The previous threshold was 25%.

Osborne said he hoped the allowance would “further encourage growth in the sector”.

The new television tax relief requirements come alongside an increase in the film tax relief to a rate of 25% for all qualifying expenditure.

The chancellor also confirmed the extension of the tax relief scheme to orchestras from April 2016 and for children’s television from April 2015, both at a rate of 25%. The latter will include programming such as game shows and competitions.

Adam Minns, executive director of the Commercial Broadcasters Association, welcomed the confirmation of children’s television tax relief.

He said: “COBA members are amongst the leading commissioners and producers of high-end television and animation content on a global basis. A properly constructed UK tax credit will help incentivise future investment in UK children’s content.”

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