05:33PM, Wednesday 09 October 2024
Culture secretary Lisa Nandy in the Pressburger Theatre, Pinewood Post Production. Photo credit: Kevin Baker
A new indie film hub complete with sound stages, production offices and workshop space is set to launch at Pinewood Studios next year.
The announcement by the Pinewood Group coincides with a visit from culture secretary Lisa Nandy who toured the wider studios site.
The Pinewood Indie Film Hub will exclusively support UK filmmakers who are taking advantage of the newly introduced Independent Film Tax Credit (IFTC).
The facility will feature support services and packages designed to meet the needs of lower budget, independent films, while also providing access to the Pinewood Studios ecosystem.
This includes everything from camera hire to drone photography and post-production.
Independent film producers will also get to use the Prep Den to develop their projects before being green-lit.
The facility, which will be serviced by 100 per cent renewable energy sources, will be available to film productions with budgets within the IFTC framework from summer 2025.
Under the IFTC, which was confirmed today (Wednesday), productions with a budget of up to £15m will be eligible for tax relief of 53 per cent on qualifying expenditure.
Any productions with a budget of up to £23.5m can also benefit from the IFTC and the tax relief will be tapered.
Lisa Nandy said: “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.
"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.”
David Conway, CEO of Pinewood Group, said: “UK film production is at the heart of Pinewood and Shepperton Studios’ DNA, and our aim with the new Pinewood Indie Film Hub is to further catalyse the independent film sector in the UK, boosting creativity and attracting further investment into the UK.
“In this highly competitive global market, we welcome the new IFTC and feel it is going to further consolidate the UK’s leading position in the screen industries.”
Cllr Martin Tett, leader, Buckinghamshire Council, said: “Buckinghamshire is one of the most filmed and film friendly counties in the UK with Pinewood at its heart.
“Pinewood’s new independent film hub will bring more productions to our wealth of unique locations across our county.”
Ben Roberts, BFI chief executive, said: “Pinewood’s new studio space and access to high-level production facilities specifically for filmmakers who are now going to be able to make new films here in the UK through the new Independent Film Tax Credit for UK films, is great news for the UK industry.
“It will also further bolster the UK’s global reputation for making great home-grown films and create opportunities to grow our talent in front of and behind the camera.”
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