£8m UK tax break for next Star Wars film

An £8m tax break for making Star Wars Episode VII in the UK, Disney will receive (unfortunately for ease of reading I cannot write all of this in Yoda-speak!).

Although HMRC continues to challenge usage of film tax reliefs that are non-commercial or not applied properly (this being “the Dark Side”) it is fantastic to see such an eagerly anticipated film being made at Pinewood Studios and this clearly shows HMRC can be Jedi Masters when they want to be.

The relief allows film makers to claim back up to 20% of production costs if the costs exceed £20m. This allows the UK to attract the world’s biggest studios to film here.

So as HMRC continue to take their light-sabre to the film tax relief schemes out there, we can at least look forward to knowing the next flight of the Millennium Falcon not only required technical data from R2D2 but also a bit of help from the tax man too.

 

Nigel Holmes, Partner

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