The next generation of indie films have been handed a major boost by the government with the introduction of a tax relief uplift, which will create jobs and drive growth by making more British hits like Aftersun and Billy Elliot possible.
The Independent Film Tax Credit (IFTC), confirmed today by the Chancellor and Culture Secretary as the London Film Festival gets underway, will mean that for the first time productions with a budget up to £15 million will be eligible for a relief of 53% on qualifying expenditure. Films with a budget up to £23.5 million are also eligible for the IFTC and the relief will be tapered.