The European Commission has given State Aid approval to the new film tax reliefs. A notice was posted o­n the European Commission website today. The new tax relief will mean:

• For films that cost up to £20 million, the Film Production Company (FPC) will be able to claim an enhanced deduction of 100% with a payable cash element of 25% of UK qualifying film production expenditure.
• For films that cost over £20 million, the FPC will be able to claim an enhanced deduction of 80% with a payable cash element of 20% of UK qualifying film production expenditure.

The minimum UK spend threshold for qualifying films will be set at 25%. More information can be found here.