One of Britain’s largest and best known film studios, the Pinewood Studios Group, has announced the launch of Pinewood Productions Ireland Limited. The new addition to the group is a full service production company focusing on physical production administration, Section 481 of the Taxes Consolidation Act provides for corporation tax relief for investment in films by companies up to 32% of eligible Irish expenditure. application and packaging.
The company will service Pinewood’s International clients shooting on location in Ireland. Services range from pre-production budgeting and location scouting, through facilities rentals and talent and crew sourcing. The company plans to hire a Head of Production to service the Ireland offering.
From 1 January 2015, Ireland’s tax incentive ‘Section 481’ (Taxes Consolidation Act 1997) for film and television has been enhanced, creating a new payable tax credit programme worth up to 32% of eligible Irish expenditure, based on the cost of all cast & crew working in Ireland, regardless of nationality.
The incentive applies to feature film, TV drama (singles or series), animation (excluding computer games), & creative documentary. Projects must either pass the Cultural Test or qualify as an official co-production under one of Irelands Bilateral Co-Production Treaties or the European Convention on Cinematographic Co-Production.
Speaking for Pinewood Studios Group, Commercial Director, Nick Smith said: [quote]We are delighted to announce this exciting new venture in Ireland. Pinewood Productions Ireland will expand Pinewood’s global offering and enhance the services we can offer our International clients.[/quote]