At the Spring Budget on 6 March 2024, the Chancellor announced that the government would continue to support the creative industries and set out that it would introduce a business rates relief for eligible film studios in England worth around £470 million over the next 10 years.

Eligible film studios in England will receive a 40% reduction on gross business rates bills until 2034, backdated to 1 April 2024. The 40% reduction is inclusive of transitional relief. The value of any transitional relief a studio receives will be deducted from the value of the film studio relief. This means that eligible film studios’ final bills will be no more than 60% of their gross bill

The relief will be available on properties valued by the Valuation Office Agency (VOA) as film studios and the VOA will notify authorities of which studios are eligible for support. If the VOA have notified you that your property qualifies, please contact our office in order to have the relief awarded.