1. Co-producing with the UK
Isabel Davis
Senior Executive, International
Film Fund
17 October 2011

2. Why co-produce with the UK?
Allows pooling of creative, financial, technical expertise and resources, inc incentives & subsidy, sharing of risk
National status = eligibility to apply for:
UK Film Tax Relief
BFI Film Fund
National funds (Wales, Scotland, N. Ireland)

3. Qualification as a British Film
Condition of access to public benefits
Qualification as British film through EITHER :
Cultural test OR
Co-production treaty

4. BFI Film Fund
Supports filmmakers in the UK who are emerging or world class and capable of creating distinctive and entertaining work
£18 million a year for:
The production and completion of over 20 feature length films each year
The development of over 100 screenplays each year
Selected short film and new talent initiatives
Bespoke production company vision slates
Alongside managing the only open access development slate in the UK

5. BFI Film Fund
On 1 April 2011, the Film Fund moved from the UK Film Council to the BFI, which became the lead body for film in the UK.
Films backed by the Film Fund through the UK Film Council include :
Steve McQueen's Shame
Andrea Arnold's Wuthering Heights
Lynne Ramsay's We Need To Talk About Kevin
Phyllida Lloyd's The Iron Lady
Fernando Meirelles’s 360
Ken Loach’s The Angel’s Share
Terence Davies’s The Deep Blue Sea
James Marsh's Project Nim
Ben Wheatley's Kill List
Peter Strickland’s Berberian Sound Studio
Michael Winterbottom’s Trishna
Jonathan Glazer’s Under the Skin
Recent releases include the American Academy® award-winning The King’s Speech directed by Tom Hooper, Joe Cornish's Attack the Block, Richard Ayoade’s Submarine, Clio Barnard's The Arbor, Nigel Cole's Made in Dagenham, Mike Leigh's Another Year, Peter Mullan's Neds and Max Giwa and Dania Pasquini’s Streetdance 3D.

6. UK Film Tax Relief - eligibility
British qualifying films
Intended for theatrical release
Minimum UK core spend requirement of 25%
Relief available on the lower of:
80% of total core expenditure; or
the actual UK core expenditure incurred.
FPC (Film Production Company) must be within the UK corporation tax net.
Administered through HM Revenue & Customs:

7. UK Film Tax Relief qualifying spend
Core spend = production budget from pre production to completion, minus excluded costs (financing, bond, marketing, entertaining, development)
UK core spend = Used or Consumed” in UK, irrespective of nationality
NOT the same as co-production spend definition:
Co-production = who
Tax = where
Costs must be incurred by UK Film Production Company (FPC)

8. UK Film Tax Relief Rebate No cap
Direct benefit to the production company – paid through corporation tax return of FPC
Reliable, paying out on time
Possibility for a producer to negotiate equity position
(where UK public funders are involved, a recoupment corridor)
Plan tax year carefully – interim payment(s) possible
Number of entities are now cash flowing

9. National and regional funds
Creative Scotland
Film Agency for Wales
Northern Ireland Screen
Creative England
Film London

10. Public broadcasters
BBC Films
Film4

11. Questions? Isabel Davis Senior Executive, International BFI Film Fund