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Independent Film Tax Credit 

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The Independent Film Tax Credit (IFTC) allows a company producing a British film with a production budget of up to £15 million to claim an enhanced expenditure credit of 53%. There is also scope for films with a budget of up to £23.5 million to benefit from the relief in respect of 80% of qualifying UK expenditure up to £15 million.


British films with either a UK writer, a UK director or certification as a UK coproduction which started principal photography on or after 1 April 2024 should qualify for the relief.


Productions will be able to apply for certification from the British Film Institute from 30 October 2024 and claims for the relief can be submitted to HMRC from 1 April 2025 onwards. Relief will only be available in respect of expenditure incurred after 1 April 2024.


The IFT has been very warmly received by the British film industry and it is expected to have a very positive impact by encouraging more independent filmmaking in the UK.

Our History Of Working In The Creative Industries


Friend Partnership has a long-standing history of working with businesses in the creative industry sector, including film production. With years of experience advising companies in this space, Friend Partnership is well-positioned to help filmmakers navigate the opportunities provided by the Independent Film Tax Credit (IFTC). Our expertise can assist in maximising the benefits of this significant incentive, ensuring that film producers can take full advantage of the relief. 

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Next Steps


Friend Partnership’s deep understanding of the unique financial and tax challenges faced by the creative industries makes them a trusted partner for those seeking to thrive in this evolving landscape. For further information regarding IFTC, you can contact our Creative Industry Tax Team on 0121 633 2000 or email them at enquiries@friendpartnership.com., or alternatively send us an enquiry through the form below.

Make a Independent Film Tax Credit Enquiry

KNOWLEDGE BASE

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Devastating Financial Impact of the Reclassification of Double-Cab Pick-Ups

18 November 2024
from April 2025, double-cab pick-up trucks with a payload of one tonne or more will no longer be taxed as light commercial vehicles but as company cars
A gold colored rolls royce phantom is on display

Abolition of the Non-domicile Tax Regime from April 6, 2025

5 November 2024
Most notable among the changes the tax regime was the abolition of the concept of domicile and its replacement with a “residence-based regime”.

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