Corporation Tax Act 2009 section 1215

Film tax relief on basis that film is limited-budget film

Section 1215 sets out the conditions that must be met for a film production company to claim film tax relief at the enhanced rates available for limited-budget films.

• Enhanced film tax relief rates are only available where the film qualifies as a limited-budget film.
• During interim accounting periods, the company's tax return must indicate that the film will be a limited-budget film in order to claim the enhanced rate.
• For the final accounting period, the tax return must confirm that the film is (or, if it had been completed, would have been) a limited-budget film.
• If these conditions are not satisfied, any film tax relief previously obtained at the enhanced rate will be reduced accordingly.

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