Film studios in England are to receive business rates relief for the next nine years, as the government rolls out a 40% reduction from yesterday (February 17).

Local authorities can begin implementing schemes and awarding the tax relief.

In October, the government confirmed that it would proceed with film studio business rates relief that will be available for eligible studios in England until 2034, and, where applicable, will be backdated to April 1, 2024.

The UK’s creative sector already employs over 2.4 million people and is worth £124bn to the economy.

Relief will be available on properties valued by the Valuation Office Agency (VOA) as film studios. Film studios will not need to apply for the relief, as local authorities will award it to eligible properties. Scotland, Wales and Northern Ireland are all devolved on business rates.

Studios will remain eligible for improvement relief in addition to this relief. Improvement relief runs for 12 months.

Across 2024, production spend across the whole UK totalled £5.6bn, a 56% increase from the previous year. Projects to shoot in studios in 2024 included Bridgerton in Shepperton Studios, The Fantastic Four: First Steps in Pinewood and the Peaky Blinders film at Digbeth Loc. Studios.