The two are nominated in the Best Actor and Best Actress categories for their roles in The Danish and Carol, respectively, where two LGBT stories lead the list of Bafta film nods.
Carol and Bridge Of Spies lead the way with nine nominations each at the event. Both have been nominated for Best Film, along with The Revenant, The Big Short and Spotlight.
Redmayne is one of the contenders for the one of the main prizes of awards season. He is nominated for the second year in a row for a BAFTA Best Actor award, for his role in The Danish Girl.
He has been widely applauded for his role as a transgender artist – after his win in 2015 for The Theory of Everything. The moving film is based on a fictitious love story, which is inspired by the lives of Danish artists Lili Elbe and Gerda Wegener.
Elbe was one of the first people to undergo sex reassignment surgery in the early 20th century.
He is up against Bryan Cranston, Leonardo DiCaprio and Michael Fassbender. The Danish Girl is shortlisted for Outstanding British Film.
Redmayne has been very outspoken on the subject of transgender issues since his casting, calling for people to become more educated on trans issues.
Carol depicts an affair between a shop assistant played by Rooney Mara and Cate Blanchett’s glamorous older woman in 1950s New York
Blanchett is in a strong female category against Dame Maggie Smith, who is nominated for the Lady in the Van, as well as Alicia Vikander, Redmayne’s co-star in The Danish Girl.