Written by David Lewis on Dec 4, 2008. Posted in Incentive News

UK co-productions suffer under new tax credit system

A report by Oxford Economics, on behalf of the UK Film Council, has shown that the Britain's film tax credit system is reducing interest in co-productions with the UK from overseas filmmakers.

Since its introduction in early 2007, the tax credit system has proven to be successful for films shot wholly in the UK. But the number of co-productions, when UK talent is being used abroad, fell from 53 in 2006 to 28 in 2007. The spend also fell from USD219 million to USD144 million.

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