Written by new-contact on Oct 26, 2012. Posted in Incentive News

Accountancy giant PwC urges Northern Ireland to seek better filming incentives

Accountancy giant PricewaterhouseCoopers (PwC) has urged Northern Ireland to chase better regional filming incentives. The firm argues that Northern Ireland should push for targeted tax incentives to help compete with the Irish Film Board’s popular Section 481 programme.

Martin Fleetwood is a PwC tax partner: “If we are looking at ways to diversify and rebalance the economy, film, television and animation production offers Northern Ireland [the] means to increase its share of an industry already worth GBP4.5bn a year to the UK.

“Recent research suggests that tax relief for the UK industry could generate GBP13 for every pound invested and extending tax reliefs could see Northern Ireland’s already-established screen and creative sector become a massive wealth creator.”

Northern Ireland would benefit from the UK-wide TV credit that’s widely expected to be launched by the British Government in 2013, but there is always room for additional measures. Fantasy TV series Game of Thrones is based in Belfast and each season feeds around GBP20 million into the regional economy.