The Production Development period generally relates to the period before a decision is made as to whether or not the project will be commissioned.   Whether the Production proceeds beyond development or not, the accountant’s responsibility is to ensure that a detailed and documented record of all income and expenditure, incurred or committed in the development period, is prepared and approved. Non-speculative development expenditure does not qualify as core-expenditure for UK tax credit purposes so it does not benefit from UK tax credit relief.

The Pre-Production period is the period just prior to commencement of Principal Photography.