UK Secretary of State for Digital, Culture, Media and Sport Secretary Lisa Nandy launched the Independent Film Tax Credit (IFTC) this week to add rocket-boosters under the UK film and creative industry during a visit to Pinewood Studios – England’s premier filming site just outside London.
The British Indian minister said the new indie film tax relief will deliver targeted investment and support for the UK’s world-leading screen industries, designed to inspire more award-winning storytelling, help drive economic growth and strengthen Britain’s competitive advantage in a fierce global market.
The new IFTC means first-time productions with a budget up to £15 million will be eligible for a relief of 53 per cent on qualifying expenditure and films with a budget up to £23.5 million would also be eligible for tapered relief. With a vision to cultivate more distinctly home-grown content and talent, films must have a UK writer or director or be certified as an official UK co-production to meet the criteria for the new tax relief.
Nandy said: “The UK’s first-class independent filmmakers have a track record of creating cult classics and surprise hits that are enjoyed by millions. Their films showcase British culture and creativity to the world while also supporting thousands of jobs and driving economic growth in all parts of the UK.
“These reliefs will pay dividends both culturally and economically, inspire the next generation of talent across the country, deliver more great British content, and sustain a world-leading industry here in the UK.”
Productions qualifying for the relief must have started principal photography on or after 1 April 2024, and only expenditure incurred on or after 1 April 2024 can be claimed. The statutory instruments have been laid before Parliament and will take effect from 30 October, which is the date from which the British Film Institute (BFI) certification unit can begin accepting applications.
British Indian filmmaker Gurinder Chadha, the director behind award-winners such as ‘Bend It Like Beckham’, said: “I have built my career in independent film and am delighted that Pinewood is supporting the independent sector in this way.
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“Along with the government’s strong commitment to British film finance these measures send a strong message to independent filmmakers, that we are valued and supported to make diverse, original stories and content that shows the world who we are as a nation. British cinema and screen industries contribute billions to the UK economy. These measures announced today make great business sense as well as cultural sense.”
The announcement of a new Pinewood Indie Film Hub, to be on offer from summer 2025, will incorporate sound stages, as well as production offices and ancillary areas such as workshop space. The state-of-the-art facility will have support services and packages designed to meet the unique needs of lower budget, independent films – while having access to the Pinewood Studios ecosystem from camera hire to drone photography to post-production.
David Conway, CEO of Pinewood Group, added: “UK film production is at the heart of Pinewood and Shepperton Studios’ DNA, and our aim with the new Pinewood Indie Film Hub is to further catalyse the independent film sector in the UK, boosting creativity and attracting further investment into the UK.
“In this highly competitive global market, we welcome the new IFTC and feel it is going to further consolidate the UK’s leading position in the screen industries.”
The announcements come as the BFI London Film Festival got underway, with a strong line-up of indie films.
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