The film is directed by Andrew O'Connor and written by Jesse Armstrong and Sam Bain, who are also the writers of the Channel 4 sitcom Peep Show, which stars Mitchell and Webb.

Other principal cast members include Jessica Hynes, Darren Boyd, Steve Edge, Peter Capaldi,[1] and Andrea Riseborough.

During the next show, Carol is locked into a guillotine as part of a climactic trick, only for the blade to decapitate her; it is not immediately clear whether Harry, despite his protestations of innocence, has murdered her or whether she was the victim of a freak accident.

Four years later, the act has broken up and the two friends – now bitter rivals – have gone their separate ways; Harry, having given up professional magic, is working in a Wilkinson hardware store, only to be fired after a customer complains when he creates an illusion of him cutting his arm severely with a knife blade during a sales pitch, whilst Karl is attempting to reinvent himself as a Derren Brown-esque magician called the Mindmonger, with limited success.

After numerous failed attempts at raising money, Harry sees a poster for the "Magic shield" competition held in Jersey, with a prize of £20,000, and decides to enter.

Trying to find a new assistant, Harry is forced to recruit the only applicant, Linda, an old work friend whose only entertainment skill is a poor dancing routine.

Karl, meanwhile, is delighted to learn that Dani has come down from London to see him perform, but is slightly alarmed to discover that she believes him to be a genuine psychic.

Karl, meanwhile, finally prepares to consummate his relationship with Dani, but admits that he is not a true psychic after she thinks he is contacting her dead father, and betrayed, she shuns him.

Karl allows himself to be locked in the guillotine, explaining that Carol was frequently unfaithful and forced him to have sex with her (but he was unable to achieve an erection when Harry caught them).

Harry wins the competition, and in his acceptance speech both forgives Karl and admits that he loves Linda, who joins him on stage and the two kiss.

Some of the U.K.'s leading real life magicians Aladin, Ali Bongo and Patrick Page make cameo appearances in the film.

[16] This assessment was shared by Leslie Felperin of Variety, who saw it as an "attenuated TV episode", with only "mildly amusing results", that was not as funny as Peep Show.

[17] The Guardian's Phelim O'Neill gave Magicians two stars, calling it "Peep Show the sequel", and stated that "O'Connor's direction has absolutely zero visual flair, making the performers' transition from television to film rather pointless.

"[20] Digital Spy gave the film a positive review, and three stars concluding that "A must for magic and Peep Show fans alike, with some original and brilliant comedy moments.