TV production rises by 87 per cent as tax break brings in £6bnComments Off on TV production rises by 87 per cent as tax break brings in £6bn
Shows such as Game Of Thrones contributed £249 million in extra revenue to the Exchequer last year, alongside £1.1 billion from films, £429 million from video games and £52 million from animation, according to the analysis.
Spending on high-end TV rose from £50 million a year before the tax credit to £394.7 million, with major US shows including Veep attracted to Britain.
The study shows the film tax costs the Treasury around £164 million a year but supports £1.136 billion in spending. It generates £12.49 for every pound spent and employment has risen by more than 20 per cent since 2009.
The report was commissioned by the British Film Institute, Pinewood Shepperton studios, the British Film Commission, UK Interactive Entertainment and the producers’ body Pact.