Jane Tranter, CEO and founder of UK TV production outfit Bad Wolf, has called for a tiered system of tax relief for TV, akin to the incoming Independent Film Tax Credit (IFTC).
Tranter, executive producer on Doctor Who, Succession, I Hate Suzie, Industry and His Dark Materials, was speaking today (March 19) to the cross-party UK parliament Culture, Media and Sport (CMS) Committee inquiry into British film and high-end TV.
“The UK shouldn’t be competing elsewhere in the world for the tax credit. The UK must determine the best tax credit to help grow domestic film and television. The [government] budget, which was recently passed, did this to a certain extent for films that cost less than PS15m. It should do the same for television. We need to amend that,” said Tranter. Films must have a budget under PS15m, a UK writer, a UK director, or be certified as an official co-production, on top of being UK qualifying in line with the previous AVEC test. Films must be budgeted at under PS15m, with a UK writer, a UK director, or be certified as an official UK co-production, on top of being UK qualifying in line with the previous AVEC test.
Previously, all UK-qualifying films and high-end TV (HETV) programmes had a headline credit rate of 34%, which equates to 25.5% in actual relief, capped at 80% of core expenditure, but with no budget limit.
The HETV tax credit remained consistent in Jeremy Hunt’s announcement at the spring budget.
“We need to look at the lower-end shows, in particular the band 2, that don’t attract inward investment, and are becoming increasingly difficult to make,” explained Tranter. “Budgets are increasing because of that US inward investment, and yet the broadcasters licence fees are not increasing, ITV ad spend is not increasing.”
She continued: “Protection for those lower-cost shows in the same way my colleagues excellently got for the PS15m and under in the UK would be helpful… protection so that you have to ensure it can’t just be a US studio flies a production in, and there isn’t someone who is invested in the area, like Bad Wolf. Are you in other parts of the country, not just England?” Are you in other parts of the country, not just England?”
Tranter lamented “productions coming in from outside the UK, literally helicoptering in, taking advantage of our good crews and comparatively good rates, bringing money with them yes, but then they helicopter out again and haven’t built any growth.”
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