How to apply for S481
Film Relief
Alfie Brown
Incentives & Financial Services Branch
Basics
• Application by e-mail only
• S.481relief@revenue.ie
• SecureMail
• http://www.revenue.ie/en/online/secureemail.html
Information sources
• Application form
• http://www.revenue.ie/en
• Guidelines
• http://www.revenue.ie/en
• Regulations
• http://www.revneue.ie/en
Process Flow
Application by
Producer
Company for
Certificate
DAHG
authorisation and
conditions
Revenue check
for compliance
with Regulations
Revenue issue
Certificate
Producer amends
CT return on ROS
Revenue issue
payment subject
to compliance
with Regulations
and conditions of
Certificate
Application by
Producer
Company for
Letter of
Compliance
Revenue check
for compliance
with Regulations
and conditions of
Certificate
Revenue issue
letter of
compliance
Producer amends
CT return on ROS
Revenue issue
payment
DAHG requirements
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Creative and technical capability
Net contribution of S481 and other State Aid
Opportunities for employment and training
Meets at least three cultural criteria
Eligible type of project
Irish-based producer
Revenue requirements
• Authorisation by the Minister
• Tax compliance
• Legal, commercial and corporate
arrangements
• Appropriate budget and financial structures
Conditions of certification
• Issued strictly on the basis of information
provided
• Notifications required
• Record keeping
• Eligible expenditure
• Minister’s requirements
• Adherence to S481 and Film Regulations 2015
• Payment details
First instalment 90%
• Financing agreements executed, conditions for
funding satisfied, 68% of eligible expenditure
lodged to production account
• Irish Film Board has agreed to release its
production funding
• Provision of guarantee, surety bond or similar
Compliance
• Director’s declaration
• Auditor’s report
• Attachments
How to claim payment
ROS Amendments
• Film Corporation Tax Credit may
only be claimed on an amended CT
return.
• All companies are mandatory efilers so all returns should be eamended where possible.
• An amendment may only be input
through ROS by the filer of the
original return
•From the Client Services/My
Services page choose to Complete
a Form On-Line and select
Corporation Tax
• ROS Client Services
page/My Services page
• Amending through ROS
Selecting a Return
• Only returns that are available for
filing or amending will be
presented.
• Select relevant CT return and click
“next”
• ROS Amendment informational
text is displayed, click to proceed to
open the return proper.
• Amended CT Return
Film Corporation Tax
Credit panel
• Select the Film Corporation Tax
Credit tab from the Navigation Bar
• All fields in this panel are
mandatory.
• The date Film Cert Issued cannot
be earlier than 01/01/2015.
•If the film has not yet been
completed, only 90% of the
approved amount may be claimed
in the first instalment.
•If the film has been completed,
100% of the approved amount
should be entered in the first
instalment field
• Amended CT Return cont’d
Film Corporation Tax
Credit panel
• It is possible to enter details of up
to 20 different productions on each
return by clicking the Add Detail
button.
• Several separate amendments
may be made to the same return
through ROS
• It is possible therefore to claim a
first instalment credit in respect of a
production while also claiming the
second instalment of a credit in
respect of a different production for
which the first instalment claim has
already been made)
•At any time you can get a running
calculation of liability by selecting
the calculate tab on the navigation
bar.
Your Self Assessment
•Every return filed/amended for an
accounting period commencing on
or after 01/1/2013 must include a
self assessment .
• Select the CT Self Assessment
tab on the navigation bar.
• Revenue will calculate your
liability and populate this data in
Column A.
• Column B is your self
assessment. You must choose to
either agree/disagree with the
Revenue calculation.
.
• Self Assessment Part 41A
TCA 1997
Your Self Assessment
•
You must also make a self
assessment declaration by
ticking the relevant box.
•
Click on the sign and submit tab
on the navigation bar to submit
your amended return to
Revenue.
•
You will receive an instant
acknowledgement of your Self
Assessed amended return in
your ROS inbox
• Self Assessment Part 41A
TCA 1997 cont’d
Approval in principle
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Complete application form
Attach draft documents
Authorisation by DAHG
Letter of approval in principle by Revenue
subject to compliance with conditions
What’s new?
• Increased support for industry
• Extension of eligible expenditure to include all
persons employed in the State
• Full relief on all eligible expenditure
• Minimum global budget €250k
• Minimum eligible budget €125k
• Tax compliance requirement
• Publication of details of beneficiaries
Do’s and don’ts
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Consult the guidance note
Contact us if you’re unsure
Draft documents for approval in principle only
Executed documents for certification
All attachments required
Sort out tax clearance issues
Remember
• S.481@revenue.ie
• SecureMail