How to apply for S481 Film Relief Alfie Brown Incentives & Financial Services Branch

Basics Application by e-mail only S.481relief@revenue.ie SecureMail http://www.revenue.ie/en/online/secure-email.html

Information sources Application form http://www.revenue.ie/en Guidelines Regulations http://www.revneue.ie/en

Process Flow Application by Producer Company for Certificate Application by Producer Company for Letter of Compliance DAHG authorisation and conditions Revenue check for compliance with Regulations Revenue check for compliance with Regulations and conditions of Certificate Revenue issue Certificate Revenue issue letter of compliance Producer amends CT return on ROS Revenue issue payment subject to compliance with Regulations and conditions of Certificate Producer amends CT return on ROS Revenue issue payment

DAHG requirements Creative and technical capability Net contribution of S481 and other State Aid Opportunities for employment and training Meets at least three cultural criteria Eligible type of project Irish-based producer

Revenue requirements Authorisation by the Minister Tax compliance Legal, commercial and corporate arrangements Appropriate budget and financial structures

Conditions of certification Issued strictly on the basis of information provided Notifications required Record keeping Eligible expenditure Minister’s requirements Adherence to S481 and Film Regulations 2015 Payment details

First instalment 90% Financing agreements executed, conditions for funding satisfied, 68% of eligible expenditure lodged to production account Irish Film Board has agreed to release its production funding Provision of guarantee, surety bond or similar

Compliance Director’s declaration Auditor’s report Attachments

How to claim payment

ROS Client Services page/My Services page ROS Amendments ROS Client Services page/My Services page Film Corporation Tax Credit may only be claimed on an amended CT return. All companies are mandatory e-filers so all returns should be e-amended where possible. An amendment may only be input through ROS by the filer of the original return From the Client Services/My Services page choose to Complete a Form On-Line and select Corporation Tax

Amending through ROS Selecting a Return Only returns that are available for filing or amending will be presented. Select relevant CT return and click “next” ROS Amendment informational text is displayed, click to proceed to open the return proper.

Film Corporation Tax Credit panel Amended CT Return Select the Film Corporation Tax Credit tab from the Navigation Bar All fields in this panel are mandatory. The date Film Cert Issued cannot be earlier than 01/01/2015. If the film has not yet been completed, only 90% of the approved amount may be claimed in the first instalment. If the film has been completed, 100% of the approved amount should be entered in the first instalment field

Film Corporation Tax Credit panel Amended CT Return cont’d It is possible to enter details of up to 20 different productions on each return by clicking the Add Detail button. Several separate amendments may be made to the same return through ROS It is possible therefore to claim a first instalment credit in respect of a production while also claiming the second instalment of a credit in respect of a different production for which the first instalment claim has already been made) At any time you can get a running calculation of liability by selecting the calculate tab on the navigation bar.

Self Assessment Part 41A TCA 1997 Your Self Assessment Self Assessment Part 41A TCA 1997 Every return filed/amended for an accounting period commencing on or after 01/1/2013 must include a self assessment . Select the CT Self Assessment tab on the navigation bar. Revenue will calculate your liability and populate this data in Column A. Column B is your self assessment. You must choose to either agree/disagree with the Revenue calculation. .

Self Assessment Part 41A TCA 1997 cont’d Your Self Assessment Self Assessment Part 41A TCA 1997 cont’d You must also make a self assessment declaration by ticking the relevant box. Click on the sign and submit tab on the navigation bar to submit your amended return to Revenue. You will receive an instant acknowledgement of your Self Assessed amended return in your ROS inbox

Approval in principle Complete application form Attach draft documents Authorisation by DAHG Letter of approval in principle by Revenue subject to compliance with conditions

What’s new? Increased support for industry Extension of eligible expenditure to include all persons employed in the State Full relief on all eligible expenditure Minimum global budget €250k Minimum eligible budget €125k Tax compliance requirement Publication of details of beneficiaries

Do’s and don’ts Consult the guidance note Contact us if you’re unsure Draft documents for approval in principle only Executed documents for certification All attachments required Sort out tax clearance issues

Remember S.481@revenue.ie SecureMail