皇冠体育app

Administrative timetable

Final report

28 January 2025: 皇冠体育app SAU has published its report providing advice to HM Treasury concerning the proposed Business Rates Relief for Film Studios scheme. 皇冠体育app report sets out the SAU鈥檚 evaluation of HM Treasury鈥檚 Assessment of Compliance of its proposed scheme with the requirements set out in the Subsidy Control Act 2022.

• Final report (28.1.25)

Request from HM Treasury

12 December 2024: 皇冠体育app SAU has accepted a request for a report from HM Treasury concerning the proposed Business Rates Relief for Film Studios scheme (the Scheme). This request relates to a Subsidy Scheme of Particular Interest.

皇冠体育app SAU will prepare a report, which will provide an evaluation of HM Treasury鈥檚 assessment of whether the Scheme complies with the subsidy control requirements (Assessment of Compliance). 皇冠体育app SAU will complete its report within 30 working days.

Information about the Scheme provided by HM Treasury

皇冠体育app Business Rates Relief for Film Studios scheme aims to support film studios in England, by giving a 40% relief on their business rates bills until 2034. By providing a discount on business rates bills, this Scheme aims to stop a market failure arising in the film studio sector in England.

皇冠体育app film studio sector is uniquely placed in comparison to other sectors. Film studios are responsible for the production of a significant quantity of economic spillovers, but are also a lynchpin for film production, which is one of the UK鈥檚 most important exports, and brings with it significant cultural benefits to UK society, as well as strengthening the UK鈥檚 soft power and global standing abroad. However, although film studios themselves are immovable, film productions are highly internationally mobile, which means that they can readily move wherever is cheapest. In order to absorb the increased business rates liabilities which have arisen for the sector, the government鈥檚 assessment is that (in the absence of this subsidy scheme) studios in England would be required to pass through the costs charged to productions, thereby significantly increasing the cost of filming in England. This passthrough of costs would reduce the competitiveness of the UK as a filmmaking destination, and lead to more films moving abroad. 皇冠体育app consequence of this would be a weakening of the UK鈥檚 film output, and of the economic spillovers and cultural benefits which accompany the production of UK film.

皇冠体育app scheme is available to any properties assessed as 鈥榝ilm studios鈥� for valuation purposes by the Valuation Office Agency (VOA). 皇冠体育app government estimates that around 40 properties will be eligible for this scheme - more detailed guidance on eligibility will be published by the Ministry of Housing, Communities and Local Government in due course. 皇冠体育appre is no maximum subsidy which can be awarded under the Scheme, but the estimated costs were published at Spring Budget 2024 and certified by the Office for Budget Responsibility (OBR), which estimated that this Scheme would cost 拢5 million in its first year (2024 to 2025), rising to 拢50 million by 2028 to 2029.

皇冠体育app Scheme will be administered by Local Authorities, who will apply the relief when issuing business rates bills to eligible properties. Local Authorities will be fully compensated by central government for the loss of income as a result of this relief. 皇冠体育app Scheme will be backdated to 1 April 2024.

Information for third parties

If you wish to comment on matters relevant to the SAU鈥檚 evaluation of the Assessment of Compliance concerning the Business Rates Relief for Film Studios Scheme, please send your comments on the date stipulated in the timetable above. For guidance on representations relevant to the Assessment of Compliance, see the section on reporting period and transparency in the Operation of the subsidy control functions of the Subsidy Advice Unit.

Please send your submissions to the public authority: [email protected].

Notes to third parties wishing to make a submission

皇冠体育app SAU will only take your submission into account if it can be shared with HM Treasury. 皇冠体育app SAU will send a copy of your submission to HM Treasury together with its report. This is to allow the public authority to take account of the submission in its decision as to whether to make or modify the Scheme or its assessment. We therefore ask that you provide express consent for your full and unredacted submission to be shared. We also encourage you to share your submission directly with HM Treasury using the email address provided above.

皇冠体育app SAU may use the information you provide in its published report. 皇冠体育apprefore, you should indicate in your submission whether any specified parts of it are commercially confidential. If the SAU wishes to refer in its published report to material identified as confidential, it will contact you in advance.

For further details on confidentiality of third party submissions, see identifying confidential information in the Operation of the subsidy control functions of the Subsidy Advice Unit.

Contacts

• CMA press team: 020 3738 6460 or鈥�[email protected]