Budget Control and VAT
Keeping a careful eye on the money being committed and spent is an important part of the producer's job. On large scale productions, an accountant is usually engaged to watch the money, on smaller scale jobs, then we use either Movie Magic budgeting software, or a simple Excel spreadsheet. The transfer of money into the UK to finance a shoot can be done using akfilmservices 's accounts . Whenever needed, akfilmservices can set up a temporary account for a specific shoot.
This account would be closed on completion of the filming. It is customary to have a representative from the clients company as co-signatories on this account. akfilmservices is happy to give an indication of costs for filming in the UK, but the budget is only as good as the information given. We need to know precisely what is required, and the proposed filming days. When the schedule becomes more accurate, then we are able to get a clearer idea of the costs involved. This can be updated, as the shoot approaches, and finalised a day or so after the shoot The money must be transferred to the UK, into an account operated by akfilmservices before akfilmservices can confirm any expenditure, so it will be necessary to have the cash flow in place before any filming. Overtime for the crew can often send a budget into the red,we ensure the crew is employed for a 12 hour shooting day. (ie a shooting day does not include travel time but does include lunch) which means that you start shooting at 8am and finish at 8pm. If the camera is still shooting after 8pm, then overtime is due to the whole crew.
VAT is a sales tax
, which is currently 17.5% of all purchases. You can claim this back if Customs and Excise are happy that the film is an export item. akfilmservices can also claim this back for you if all the purchases are made through akfilmservices and we have proof that the finished film has left the country. It can add up to a lot of money, so it is necessary to decide beforehand, who is going to make the claim. The refund of VAT is perfectly possible via akfilmservices , we are permitted to claim VAT on your behalf in the UK, provided we keep all the original invoices, and they are in the name of akfilmservices . We need to have proof the finished film has been exported, so we will need a note from a freight agent that the film has left the country before the VAT on the manufacturing costs of the film can be claimed.