The UK is set to unveil anew tax support system,according to reports over the weekend.
The replacement to existingsupport under Section 48 is expected to be unveiled today (Tuesday, Sept 21). It is anticipated that it will be a basic 20% tax credit for production costs on films budgeted under£20m.
The credit is expected to come into effect in July next year. As withSection 48, it is anticipated that films must qualify as UK productions toaccess either form of support.
An extension of Section 48is also expected to be confirmed tomorrow in order to smooth the transition.