Jane Tranter speaks to Culture, Media and Sport Committee

Source: Parliament.TV

Jane Tranter speaks to Culture, Media and Sport Committee

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 needs to sort out what is the best tax credit it can get to grow its domestic film and TV. The recent [government] budget did that to some extent for the very hard to fund £15m and under film. It needs to do the same thing for television. Somehow television’s voice got lost in that spring 2024 budget. We need to amend that,” said Tranter.

In the spring budget, announced earlier in March, IFTC-eligible films will be able to opt-in to claim enhanced Audio-Visual Expenditure Credit (AVEC), at a rate of 53% on their qualifying expenditure, which equates to around 40% in relief. Films must be budgeted at under £15m, 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 £15m 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. who will be there saying: ‘I want to build a classroom, I want to train, are you levelling up? 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.”