Film Relief (Section 481 Film Tax Credit)
Overview
Since 2015, Film Relief has been available only to producer companies in the film and film production industry.
A producer company can use film relief as a credit against Corporation Tax (CT). If the relief is more than the tax due, Revenue will pay the difference.
The amount of relief due depends on the production costs of the qualifying film. The credit is 32% of whichever is the lowest of:
- eligible expenditure
- 80% of total qualifying film production costs
- or
- €125 million.
This new maximum expenditure amount of €125 million applies to projects certified on or after 28 March 2024. The previous expenditure cap of €70 million continues to apply to projects certified before this date.
Following changes in the Finance Act 2018, Revenue is no longer involved in the application process. Under self-assessment there are two stages:
- The producer company must apply to the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media. This must be done in advance of commencing the film. This is confirmation that the film is a qualifying film for the purposes of the credit.
- A producer company can make a claim for the credit through the Revenue Online Service (ROS). The company must have a cultural certificate and meet the other requirements of the credit to claim it.
You can claim the credit in full after the film is completed. Alternatively, you can claim for up to 90% of the credit based on budgeted expenditure with the balance claimed on completion.
For further information, please see the guidance note Tax and Duty Manual Part 15-02-04.
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