At one point, Thatcher is shown making ice cream to give to a voter as part of an election campaign. In real life, Thatcher was a chemist who developed the emulsifier for that particular type of ice cream.
Streep prepared for the role by spending months watching broadcasts of Margaret Thatcher to learn her mannerisms and speech. She also spoke to dozens of people who knew her, including former Labour Party leader Neil Kinnock, who faced Thatcher in the House of Commons for seven years.
Meryl Streep was named Best Actress of the Year at the Academy Awards for her performance as Margret Thatcher in this film. The Oscar was presented to her by Colin Firth who was named Best Lead Actor the year before for his performance as King George VI in The King's Speech. Streep subsequently presented Best Performance by an Actor in a Leading Role to Daniel Day-Lewis for his performance as Abraham Lincoln in Lincoln. So in a span of three years, lead acting Oscars were awarded for portrayals of the King of the United Kingdom and the Dominions of the British Commonwealth and Emperor of India, the British Prime Minister and the President of the United States.
At The 84th Annual Academy Awards (2012) , this movie was nominated for two Oscars, Best Actress in a Leading Role and Best Makeup, and won both, achieving a perfect score of two wins from two nominations. This feat was previously also achieved by Ed Wood (1994) which also won two Oscars from two nominations. Both films won in the Makeup category and one award for the acting.
This movie contains six actors from the award-winning series Game of Thrones (2011). Iain Glen plays Jorah Mormont, Harry Lloyd who plays Viserys Targaryen, Rupert Vansittart who plays Yohn Royce, Susan Brown who plays Septa Morane, Richard E. Grant who plays Izembaro, and Jim Broadbent will portray a "significant" season 7 character.