Film & TV Tax credit and VAT refund specialist Adsum attending MIPCOM 2022
Adsum will be showcasing its solutions at MIPCOM Cannes 2022 – the largest event for the film, TV production, and animation industry. Adsum will be demonstrating in the UK village in Cannes from the 17th to the 20th of October.
Decision makers from over 100 countries converge in Cannes every October to compete for new series, source international production partnerships, and set the development agenda for 2023 and beyond.
Justina Tartilaite, co-founder and CEO of Adsum, comments: “Film and TV production is an essential part of both the UK economy and our cultural footprint throughout the world. In fact, in the last decade or so, it has become one of ourfinest exports.
“This is, at least in part, due to tax credits. The Government’s generous tax refunds for qualifying investments made in these sectors give a great incentive to produce films and TV shows, as well as animation and video games, in the UK. Yet the process to claim this money back is complex and time-consuming – and HMRC can take months to refund companies. This impacts and slows down the economics of any project.
“We aim to change this, by using technology to calculate, file, and recover film and TV tax credit returns whilst advancing companies the money up front, so they don’t have to wait for payment from HMRC. This unique offering simply aims to improve funding for the UK’s brilliant creative industries, who like everyone else, are facing myriad challenges.”
Kim Olive, Head of Product at Adsum, commented: “MIPCOM is an essential meeting point for the international creative industries involved in Film and TV production. We will be here for all four days to demonstrate how UK companies can use leading-edge technology to simplify their tax credit calculations and get the money they’re owed the same day, without waiting for HMRC.
“These credits have become an increasingly impactful policy and one that continues to incentivise international businesses to produce their films and TV in the UK. Yet it is hampered by HMRC delays and is a time-consuming process. By using technology to streamline this process we’re helping film and TV production companies access their funding without delay.”
