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Co-producing with the UK

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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

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