It’s good news for Television!
The UK is looking set to impose high-end television tax breaks of up to 25% from April 2013. The Treasury will publish draft legislation on the tax breaks early next week, and after consultation, will put it into the Finance Act to come into effect April 2013.
The TV tax breaks will work in the same way as the film tax reliefs, so eligible TV productions will be able to receive a cash rebate of up to a quarter of their production budgets.
The tax breaks will act as a huge incentive for overseas TV productions to set up office here in the UK. This is great news for the Industry!
You can read more about the tax breaks in Broadcast’s online article (link below).