Christopher Nolan among filmmakers hailing tax relief for independent UK movies
British filmmakers Christopher Nolan, Richard Curtis and Emerald Fennell have welcomed a tax relief for UK independent movies which has been hailed as “game changing” for new talent.
During the final Budget before the general election, Chancellor Jeremy Hunt announced the Government will provide eligible film studios in England with 40% relief on gross business rates until 2034.
He said the tax credit will be focused on UK independent films with a budget of less than ÂŁ15 million.
Oppenheimer director Nolan and his wife Emma Thomas, who was a producer on the blockbuster, said in a joint statement: “Independent and lower-budget filmmaking is where we had our start and where new voices and innovations vital to the entire industry are born.
“This enhanced tax relief builds on the incredible work already being done by British filmmakers and will create new opportunities for British crews, filmmakers and cast members for years to come.”
His latest film, in which Irish star Cillian Murphy plays theoretical physicist J Robert Oppenheimer – described as the father of the atomic bomb – has swept awards season, winning a string of Baftas and being nominated for 13 Oscars.
Love Actually and Notting Hill filmmaker Curtis, and Fennell, who directed psychological thrillers Saltburn and Promising Young Woman, were also among the British talent to support the relief.
Bond producer Barbara Broccoli described the move as “game changing” for the sector.
“It will ensure that our screen industry will continue to thrive by giving opportunities to a diversity of new talent both on and off the screen for future generations of filmmakers,” she added.
Oscar-winning filmmaker Sir Steve McQueen, who was behind 12 Years A Slave, said he “strongly” backed the move as independent films are “extremely important”.
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