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Film Tax Relief: How to get your greenlight funds in 24 hours

It’s an exciting time to be working in film. Investment has smashed pre-pandemic levels and the UK production industry is seeing once-in-a-lifetime growth.

Inside the many buzzing greenrooms, tax credits aren’t among the hot topics – but they should be. Did you know you could use the tax credits system to fund your next feature in a few clicks?

We’re not talking pennies here, either. The average British film production company is due  up to 25% of their core production expenditure in the UK in creative tax relief, which is enough to bankroll the next project.

With Adsum, those funds could be in your account in as little as 24 hours with a creative tax credit advance. You might be wondering ‘what’s the catch here? Is Madonna funding it on the condition that she gets a starring role?’

In this article, we reveal the facts every film production company should know to fast-track their funding straight to lights, camera, and action.

First things first…What is film industry tax relief?

Film tax relief is a type of creative tax credit, which is a tax relief scheme set up by the government to boost the UK creative industry.

What’s more, it’s not just film production companies that can claim. You could have funds coming your way through the following:

  • Film tax relief
  • High-end television tax relief
  • Animation tax relief
  • Children’s television tax relief

It lets production companies reduce the amount of tax they owe based on their UK expenditure or, in some cases, claim a payable tax credit (in other words, get cash!).

Sounds like pie in the sky? It’s not. Since the scheme was dreamed up in 2007, thousands of production companies have lined up to make a claim, resulting in:

  • £3.9 billion paid out in total
  • An average of £7m was paid out to 740 films in 2019-20
  • £611m total paid out to films in the 2021 tax year

That’s probably enough number crunching for the film buffs among you, so let’s put it another way… The average pay-out would have covered the entire budget for these multi-million-revenue hits:

  • The Invisible Man (2020)
  • Get Out (2017)
  • The Purge (2013)
  • Saw (2004)
  • Napoleon Dynamite (2004)

But you don’t have to think small budget. There is no cap on how much you can claim and you can put in multiple claims for one film. Essentially, the bigger you spend, the bigger you can earn.

Film production

How does it work?

This is the boring part but we promise to get it over with quickly.

Is my film eligible for creative tax credits?

If you’re a production company contributing to great British cinema (or telly), the answer is probably yes!

There’s no minimum or maximum expenditure amount. To qualify for film tax relief, you just have to:

  • Be a production company (not an individual or an investor)
  • Intend to release your film to the movie theatres
  • Be certified as a British film by the BFI (e.g. ‘The Culture Test’)

You’ll need to round up a few documents, such as your DCMS British Film certificate, your statutory accounts, and your tax return. After that, Adsum can do the rest for you.

Let’s cut to the good part – how to get the funds in as little as 24 hours

Behind every great film are the people who get things done. While Adsum might not appear on the red carpet, we make sure UK film production companies get their funding – and fast.

Without our help, HMRC will eventually pay out… But they like to drag their heels. It’s much more fun to cut to the action.

We calculate what you’re owed and advance you 100% of your qualifying tax credit in as little as 24 hours. Plus, you don’t have to waste your creative juice dealing with the endless bureaucracy from HMRC – we handle everything for you.

Here’s the rest of the highlights reel:

  • No upfront fees
  • No maximum payout
  • Get rolling advances or one-off payments

Read how we’ve helped other film production companies quickly get their funding to kickstart their next project.

How can I get my funding now?

It’s showtime – here’s all that you need to do:

  1. Link your accounts
  2. Get your cash within 24-hours of approval
  3. Go and make history

That’s it! Contact us directly to find out more or simply start your claim today.

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