TAX RELIEF FOR BRITISH FILMS
Copyright 2001 www.tombraiderchronicles.com

[ March 8th 2001 ]

The continuation of tax breaks for film production in the UK is expected to secure 40,000 jobs after the British Film Council successfully lobbied the culture department and treasury who said their long term aim was to create a "more sustainable and better capitalised film industry", The Guardian reports today. This follows the recent implementation of legislation in Iceland which rewards foreign productions a 12 per cent tax incentive, and could see Simon West's Tomb Raider reimbursed for costs incurred while filming on the glacier plains of Iceland's rich landscapes.

The move towards a British tax relief initiative was responsible for a record £500m worth of foreign film production last year attracting the likes of Tomb Raider, The Mummy Returns and the Stephen Spielberg production of Band Of Brothers to the UK for filming.

"This is hugely important for the British film industry," said John Woodward, chief executive of the Film Council. "Section 48 relief's have been vital to the recent resurgence of film production in the UK and there is now a firm foundation for growth and exports over the next few years."