Given the significant reductions in after tax income following the recent tax changes, it is essential that a person maximises the use of all available tax reliefs to soften the impact of these changes. Section 481 film relief is one of those reliefs that should be considered.
Tax relief for investments in qualifying films is available on investments of up to €50,000. The relief operates by reducing taxable income at the higher rate by the amount of the investment made and the resulting tax break is effectively split between the investor and the producer of the film/TV series.
In order to make an investment, an investor must register for a project and receive an investment pack. Please click here for the expression of interest sheet and return by email to mazarsfilm@mazars.ie or fax 091-583242.
Irish state aid for film production in Ireland
Paul Mee is one of the leading experts in film finance in Ireland and has been advising producers on ulltlising the Irish state aid system for filmmkaing in ireland for over 15 years.
This short example will explain how Section 481 Operates. Tax relief for an investment in a qualifying film company is available for amounts up to a maximum of €50,000.
Film Finance Expression of Interest Sheet
If you decide to register as a prospective investor, you will receive an investor pack in due course which fully explains how section 481 works and only after reading that will you be in a position to decide whether to invest.