I was surprised to hear at the VFX Festival that there was going to be tax breaks for the Industry as I have noted before that the Film Industry already has one and included that as part of the VFX tax breaks. However, along with Games, Television and Animation, from April 2013, the VFX Industry (Falling into those categories) will get tax breaks as well that are similar to the Film Tax Break model, in that if expenditure is under a certain amount, a percentage is given back by the Government, whilst if it is over a certain amount, a smaller percentage is given back.
This is going to make the VFX Industry strive for the next few years, especially with the extension of the Film Industry tax break until 2015. However, some American VFX Companies are up in arms about this decision as it means that a lot of Films will be going to London for Visual Effects rather than staying within America.
This PDF file (Link) shows the breakdown for the tax breaks, but I am unable to find any information on the exact figures, but I am sure these will come out in April 2013. From what I have gathered, the Government wants to be the leader in the Creative Industry so had a consultation period for individuals and companies to come forward and suggest what sort of tax break will be put forward in April 2013.
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