It is with great sadness that we view the loss of roles for many gifted and experienced members of the UK VFX and wider community with the demise of Technicolour and their UK companies, MPC and The Mill.
Even with the positive news that AVEC (The Audio Visual Expenditure Credit) will bring a much needed boost to this vital creative sector in the production cycle, prolonged industry strikes and slower than expected upturn in business continues to cause challenges for many.
PGGB offer what support we are able to for both our Post-Production and VFX Members through our team, community and connections to the network of other professionals and partners that make up our Guild family.
If you have been affected by the closure of Technicolour, please do net hesitate to reach out. You can book a slot on our Membership Development Helpdesk every Wednesday afternoon, or request a call with me or one of the team by emailing [javascript protected email address].
In the longer term, we do hope that positive changes are afoot. Under the AVEC, UK VFX costs on film and high-end TV productions will receive an overall net rate of 29.25%. The Government will also remove the AVEC’s 80% cap on qualifying expenditure for UK VFX costs. The removal of the cap is crucial, as the previous terms meant US majors shooting their films in the UK were sometimes forced to go elsewhere to do their post-production. These changes will take effect from 1 April 2025 in respect of expenditure incurred on or after 1 January 2025.
Michael Beavan, Acting CEO, PGGB
