Disney collects £170m in tax credit payments from UK location filming
Disney has been paid tax credits of nearly GBP 170 million from location filming in the UK since the incentive was launched in 2007. Payments peaked last year at a little over GBP 50 million when Disney subsidiary Marvel filmed Thor: The Dark World largely in London.
The studio spent nearly 20% of its global production budget in Britain in 2013, up from 11% the previous year, according to official figures reported by the Guardian. It’s a stark measure of the UK’s soaring popularity as an international filming location. Since 2007, Disney has spent GBP 1.4 billion on feature production in Britain.
Major London shoots have included Pirates of the Caribbean: On Stranger Tides and several big-budget superhero movies through the Marvel banner. In addition to Thor, these include this summer’s international hit Guardians of the Galaxy and upcoming ensemble sequel The Avengers: Age of Ultron. The studio also owns Lucasfilm and will be filming at least two new Star Wars movies in London until the end of next year.
The UK boosted its filming incentives programme earlier this year to make it easier for international shoots to qualify for greater support. Competition is growing elsewhere in the world, with Australia’s resurgence having led to the country securing the fifth Pirates of the Caribbean movie.
California will expand its incentive programme from next year, which could impact the industry on a global level given that the UK is considered one of California’s main competitors. However, the developments on the West Coast are also likely to be met with a response from other North American production hubs like New York, New Orleans, Atlanta and Toronto, all of which have consolidated their own industries in recent years.
(Photos: Jay Maidment/Marvel)
Not Logged in
You must be logged in to post a comment
There are no comments