Film and TV production is a capital-intensive industry, where managing budgets and financial resources can make or break a project. From securing funding and tracking production costs to navigating tax incentives, producers and CFOs face numerous financial challenges throughout the production lifecycle.
At Plus Accounting, we help Film and TV production companies implement best practices in budgeting and financial management, ensuring projects stay on track and within budget while maximising available tax reliefs.
Managing Complex Production Budgets
Film and TV production involves significant expenses across multiple phases—pre-production, production, and post-production. Keeping track of these costs and ensuring they align with the overall budget is crucial for a successful project.
• Problem: Without a structured budgeting approach, production costs can spiral out of control, leading to project delays or even cancellation.
• Solution: Plus Accounting provides expert financial advice on managing production budgets, ensuring that every Pound is accounted for. We help create detailed budgets that track costs across all production stages, from talent and crew salaries to equipment and location fees.
With proper budgeting, producers can stay within financial constraints while ensuring the quality of their production.
Securing Funding and Managing Investor Relations
Securing funding is often the first step in getting a film or TV project off the ground. Whether through private investors, production companies, or crowdfunding, managing these financial relationships is key to ensuring steady cash flow throughout production.
• Problem: Mismanaging investor funds can lead to financial shortfalls or strained relationships with stakeholders.
• Solution: Plus Accounting works with production companies to create clear financial reports for investors, ensuring transparency and trust. We also help manage cash flow to ensure funding is available at every stage of production.
By maintaining healthy investor relationships, producers can secure future funding for additional projects.
Maximising Tax Incentives
Many countries offer tax incentives for film and TV production, such as the UK’s Film Tax Relief (FTR). These incentives can significantly reduce production costs, but navigating the application process and understanding the eligibility criteria can be challenging.
• Problem: Failing to take full advantage of available tax incentives can result in missed savings that could have boosted production quality.
• Solution: Plus Accounting specialises in helping production companies apply for tax reliefs like the Film Tax Relief (FTR) and High-end TV Tax Relief (HTR). We ensure that productions meet the necessary requirements and assist with the application process to maximise potential savings.
By working with a knowledgeable accountant, producers can ensure they take full advantage of tax incentives, reducing overall production costs.
Post-Production Financial Management
Once filming wraps, the financial challenges don’t end. Post-production costs, including editing, visual effects, and marketing, must be carefully managed to avoid overspending.
• Problem: Without proper financial oversight, post-production costs can exceed the remaining budget, putting pressure on the final stages of the project.
• Solution: Plus Accounting offers financial management services for post-production, helping you allocate resources efficiently and avoid budget overruns. We provide detailed reports and financial tracking to ensure your project stays on track through the final stages.
With effective post-production financial management, producers can bring their projects to completion on time and within budget.
Why Choose Plus Accounting?
At Plus Accounting, we understand the financial complexities of Film and TV production. Our expert team helps production companies navigate the entire budgeting process, from securing funding to managing post-production costs, ensuring a smooth and financially sound production experience.
- Expertise in film and TV production budgeting
- Assistance with securing and managing funding
- Maximisation of available tax incentives
- Post-production financial management
Financial Success in Film & TV Production with Plus Accounting
Managing finances in film and TV production is a complex but essential part of creating successful projects. Plus Accounting offers tailored financial services to help producers manage budgets, secure funding, and maximise tax incentives, ensuring your projects stay on track.
Contact Plus Accounting today to learn how we can support your film or TV production.
Author: Mark Horsfield, Business Services Manager, Plus Accounting
Any views or opinions represented in this blog are personal, belong solely to the blog owner, and do not represent those of Plus Accounting. All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Please note that AI has been utilised in generating content for this blog.
Published: 11 February 2025