09 Oct 2018

New SPI Evaluation of UK Screen Sector Tax Reliefs Launched

Screen Business – a major new analysis of the UK’s Screen Sector Tax Reliefs researched and written by Olsberg•SPI with Nordicity – has been published today by the British Film Institute. The report demonstrates the vital impact which production and development supported by the Screen Sector Tax Reliefs has on the UK’s economy.

Based on our new, best practice methodology, the report shows that the UK’s Screen Sectors generated £7.91 billion in total GVA in 2016, supporting 137,340 FTE jobs, and £2.04 billion in total tax revenues. These increased by 73%, 67%, and 62% respectively from 2013 for the sectors in continuous receipt of the tax credit.

The report underlines the ongoing value which the Screen Sector Tax Reliefs generate across the UK, with GVA returns on investment per pound of tax relief of £7.69 for Film, £6.10 for High-End Television, and £4.00 for Games.

The publication of Screen Business was welcomed by Philip Hammond, Chancellor of the Exchequer, who wrote in his foreword to the report that “The UK is one of the best places in the world to make films, high-end TV programmes, video games, and animations. I’m immensely proud of the support that the government gives to these industries, which is why I am delighted to welcome the BFI’s report on the economic impacts of the UK’s screen sector.”

A summary version of Screen Business is available here, with the full report published here.

Technical appendices are also available here.