Two film actors named Anna and Mike (Meryl Streep and Jeremy Irons) rehearse their roles for a Victorian period piece and have an affair with each other. Interspersed with the present day scenes are extensive clips from the finished version of the film they're working on: the love story of a gentleman named Charles and a poor woman Sarah who has lost her reputation after having been romantically linked to a French officer. Charles and Sarah, like Mike and Anna, are played by Irons and Streep.
The movie-within-a-movie structure makes it possible to examine the expressions of romance in very different eras that still mirror each other in many ways. While the Victorian society is suffocating in its prim and proper moralizing, relationships are not necessarily easier in the liberal modern era either, as it is always difficult to follow one's heart without hurting someone in the process.
Technically the film is well made, the historic sets and costumes look good and Streep and Irons are convincing in their double roles. Especially the eponymous Sarah character is full of tragic mystery and understandably carries the film whenever she is on. The pace is slow and peaceful, allowing the romances to develop without haste. In the end the Victorian story gets more attention and is probably what the film is best remembered for, but the present day romance is a tale worth telling too. In any case, I recommend the film for any fan of romantic cinema – it's essentially two romances in one.
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