Netflix series Valhalla secures Irish tax relief of up to €30m

Revenue figures show Vikings spin-off was among largest Section 481 beneficiaries in 2020

Netflix series Valhalla, which counts Irish company Metropolitan Films among its producers, is a spin-off from Vikings, above.

Netflix series Valhalla, which counts Irish company Metropolitan Films among its producers, is a spin-off from Vikings, above.

 

The Netflix production of Valhalla was last year one of the big winners in securing Section 481 film and television tax relief from the Revenue Commissioners.

Figures released by Revenue show that Metropolitan Films International secured tax reliefs of between €10 million and €30 million in 2020 for the Vikings spin-off, Valhalla.

The tax relief was granted in December and the 24 episode series is being shot at Ashford Studios in Co Wicklow.

Irish-based animation studios also feature prominently on the Revenue tax relief beneficiary list.

The figures also show a fifth series of Brown Bag Films’ global hit, Doc McStuffins, qualified for tax reliefs between €2 million and €5 million in 2020.

The Dublin-based Boulder Media qualified for tax reliefs for its My Little Pony between €10 million and €30 million while a separate My Little Pony production – My Little Pony: Pony Life – qualified for tax reliefs between €1 million and €2 million.

Apple’s Foundation

The production company Wild Atlantic Pictures, which made the €45 million Foundation series shot in Limerick, qualified for the Revenue’s Section 481 tax reliefs, ranging from €10 million to €30 million for the production.

The series, based on the Isaac Asimov work, is one of the largest ever television productions to take place here and employed more than 500 production staff. 

Award-winning actor Jared Harris is playing Hari Seldon in the 10-part series, which was shot at Troy Studios in Limerick and is due to debut on Apple’s streaming service, Apple TV Plus, in the autumn.

The figures from Revenue show the Foundation series secured tax reliefs of between €5 million to €10 million alone for the pilot episode of the series.

The Foundation series is just one of a number of productions that Wild Atlantic Pictures has secured tax reliefs over the past three years.

In 2018, the company secured tax reliefs for between €10 million and €30 million for the TV adaptation of George R R Martin’s Nightflyers, which was first broadcast on the US channel, SyFy.

Last year, the company has also secured tax reliefs of between €5 million and €10 million for Fate: The Winx Saga and tax reliefs between €2 million and €5 million for the Green Knight.

Total claimed

A spokeswoman for the Revenue Commissioners stated on Tuesday that statistics concerning the total amount claimed under movie and tax relief are not yet available for 2020 and 2019.

In 2018, movie and TV production firms lodged claims seeking corporation tax credits from the Revenue Commissioners totalling €95 million – double the amount claimed in 2016.

The €95 million in claims for 2018 follow claims of €73 million made for credits in 2017, €45 million in 2016 and €17 million for 2015.