Film Relief (section 481 film tax credit)
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
- €70 million.
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 Culture, Heritage and the Gaeltacht in advance of commencing the film for a ‘cultural certificate’. This is confirmation that the film is a qualifying film for the purposes of the credit.
- A producer company that has received a cultural certificate and that meets the other requirements of the credit makes a claim for the credit through the Revenue Online Service (ROS).
A claim for the credit can either be made:
- in full after the film is completed
- a claim for up to 90% of the credit based on budgeted expenditure with the balance claimed on completion.
See the guidance note Part 15-02-04 for more details.
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