Frank Capra's 1946 classic Christmas tale, Its a Wonderful Life, followed the trials and tribulations of George Bailey, played by James Stewart, a small town guy who dreamed of bigger things.

When things get tough George wishes he had never been born. Then he gets to find out exactly what the world would be like without him.

The sequel, titled It's A Wonderful Life: The Rest of the Story, will focus on George Bailey's unlikable grandson (also called George Bailey) who is shown how better the world would have been had he never been born.

The producers are hoping to cast some of the original actors with Karolyn Grimes returning to play an angel. She played George Bailey's daughter Zuzu in the original.

Producer Bob Farnsworth, who co-wrote the screenplay said: "The story line of the new film retains the spirit of the original – every life is important as long as you have friends,"

The film is expected in cinemas around Christmas 2015.