Film and Entertainment

3M Accountants work with international production teams to take their visions from script to screen when working in the UK. We provide accounting and taxation services which allow films and other media to be produced in the most tax efficient manner.

Film Tax Relief

Since 2007, the UK film tax relief has encouraged producers to film their next big blockbuster in the country. As one of the most popular of the 8 creative industry reliefs, HMRC announced big changes to beneficial tax relief for overseas productions coming to the UK. These include: Lowering the minimum amount to be spent in the UK to 10% Removing the cap on the amount of relief that can be claimed, but all continue to be capped at 80% of the total production budget (including overseas) Removing the cap on limited budget films, so that any losses can be claimed at 25%

Cultural Test

All tax reliefs have their own rules governed by HMRC, however, films must also pass the “cultural test” to certify the film under production is a British qualifying film. The certification is applied for via application, and 3M Accountants are currently the go-to for completing and obtaining this certification. 

Separate certification (interim) can be applied for to speed up the tax relief process, such as half way through production, and we have significant experience in doing this.

3M Accountants are currently helping clients from numerous regions and counties obtain these credits and certification, but in particular India and Europe.

Film and Entertainment services

Our services include:

  • Industry specific tax advice

  • Advice, assistance and completion of the BFI application, required for certification as a UK film

  • Production bookkeeping, including VAT advice

  • Set visits as required, to ensure that we bring our service to you

  • Corporation tax compliance, including the computation and filing of eligible film tax credits

  • Contact with local film crews and locations and competitively priced post production services