UK plans to allow filmmakers receive specific tax breaks for films that are deemed ‘culturally’ important – as opposed to being obviously commercial – have received approval from the European Commission.
Without the approval, the plans might have fallen foul of an European ban on film subsidies. But it was the cultural dimension to the plans which allowed for the approval to take place.
A notice concerning the proposed new tax reliefs was posted on the European Commission website yesterday. Click here for more information.