The UK film and TV industry is receiving a significant boost with the government’s 40% business rates relief for film studios, rolling out starting 17 February 2025. This move is part of the government’s Creative Industries Sector Plan, designed to help the UK maintain its position as a world leader in production.
A Game-Changer for Film Studios
The relief, available until 2034, will reduce business rates by 40% for eligible film studios in England, making it easier for filmmakers to create the next big hits, cult classics, and indie gems. It’s part of a wider strategy to support economic growth and job creation across the creative sector, which already contributes £120 billion to the UK economy and employs 2.4 million people.
Supporting Regional Growth
In addition to the rates relief, the £150 million Creative Places Growth Fund will support regional film and TV clusters, boosting local screen agencies and encouraging production across the country, from Manchester to Sunderland. This will help create new jobs and develop the UK’s film infrastructure outside of London.
More Tax Incentives for Filmmakers
The relief is complemented by other generous tax incentives. The UK Global Screen Fund expands to £18 million annually to support international co-productions, while filmmakers can access 39% tax relief on visual effects costs from April 2025. Plus, independent filmmakers will benefit from an enhanced 53% tax credit for films under £15 million.
The Road Ahead
The UK film sector is booming, with £5.6 billion spent on production in 2024 alone. With the new tax relief and funding initiatives, the UK is set to stay ahead of the curve, attracting both local and international productions. Lisa Nandy, Culture Secretary, highlighted the sector’s potential for further growth, ensuring that the UK continues to produce global box-office hits and world-class content.
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