Three types of funds are accessible in a BFI Locked Box:
• BFI Corridor – when the BFI awards production funding to a film, a portion from the BFI’s recoupment income is put aside
• UK Tax Credit Entitlement – independently of, and in addition to, the BFI Corridor, the UK producer can receive an equity entitlement position in the film’s recoupment schedule
• Recycled Development Funding – when the BFI awards development funding to a UK producer, money repaid to the BFI can be allocated to a BFI Locked Box for use by that UK producer
As a response to the Covid-19 crisis, a portion of Locked Box funds are now available to help overcome hardship during the next 6 months. We will be contacting individuals who hold a Locked Box about how to access these funds.
Who can access a Locked Box
Locked Boxes can only be accessed by a film’s producer if they are UK nationals or residents and if the film has been funded through a UK registered production company.
A BFI Corridor can also be accessed by the film’s writer or director. If the film is a coproduction treaty or European Convention film the BFI Corridor is only available to the UK producer (not its co-producing partners).
Under UK Tax Credit Entitlement, if the film is a coproduction treaty or European Convention film the BFI Corridor is only available to the UK producer.
Recycled Development Funding can not be accessed by a producer that has taken on the project after turnaround — unless BFI exercises its discretion to allow this in exceptional circumstances.
Access a Locked Box
Please ensure you have a BFI Locked Box contract confirming your entitlement(s) and setting out the terms and conditions of access to the funds before requesting funds from your Locked Box.
Read the fact sheet for more details.