The UK is a pretty good place to be an F1 fan, as a number of F1 teams are headquartered in Great Britain. Four current F1 racing drivers are British, including the incredible Lewis Hamilton, with several more test drivers as well. Brits have their own race every year, no matter how poor the facilities and the attendance. And they're within driving distance of a handful more on the Continent. In short, the British Isles are F1-land, and more British companies are getting in on the action every year.
The latest to offer their services to race fans is Vue Cinemas, a rapidly-expanding chain of movie theaters that currently counts 59 multiplexes encompassing over 570 screens in England, Scotland, Wales, Northern Ireland and the Republic of Ireland. The chain has announced it will be screening a live feed of the British Grand Prix, directly from Silverstone, with no commercial interruptions. Vue Cinemas is calling it a "larger-than-life-experience" that will be offered at 30 of its locations in the UK.
You can expect tickets to be considerably less expensive than race tickets, and while it won't feature the same "right-there" experience, you'll probably get a better Vue.