The Pinewood Group is launching a film hub for independent filmmakers, in the wake of the UK Labour government’s ratification of the Independent Film Tax Credit (IFTC).
The hub plans to open in summer 2025, with Pinewood promising it will exclusively be available to support filmmakers in the UK who are taking advantage of the IFTC, at an accessible price.
It will incorporate sound stages in the pre-existing Buckinghamshire Pinewood Studios site, as well as production offices and ancillary areas such as workshop space. The facility will have support services and packages designed to meet the specific needs of lower budget, independent films – while having access to the wider Pinewood Studios facilities, such as camera hire, drone photography and post-production.
Producers working on IFTC-qualifying projects in development will also be able to benefit from access to a ‘prep den’, which sets aside space for work on features at development stage.
The facility will be serviced by 100% renewable energy sources and available to film productions with budgets that sit within the IFTC framework from summer next year.
The announcement of the Pinewood Indie Film Hub coincided with a visit by culture secretary Lisa Nandy, who toured the wider Pinewood Studios site.
“Pinewood’s new state-of-the-art facility will be a huge boost for the UK’s indie filmmakers, offering first-rate infrastructure and on-site expertise to bring more British productions to the big screen,” said Nandy.
“Together with our new indie film tax relief, we are delivering targeted investment and support for the UK’s world-leading screen industries, designed to inspire more award-winning storytelling, help drive economic growth and strengthen Britain’s competitive advantage in a fierce global market.”
The IFTC statutory instrument was laid before Parliament today and is aimed at films with a total core expenditure, or production budget, of up to £15m. They can now benefit from an enhanced credit of 53%, which equates to an actual relief of just under 40%, on up to 80% of qualifying expenditure.
Productions must meet the terms of the BFI’s existing cultural test and have a UK writer or director, or be certified as an official UK co-production.
Those productions with a total core expenditure of up to £23.5m can also qualify for the IFTC; however, they can only claim the IFTC up to a maximum of 80% of £15m of the UK qualifying spend.
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