Partnerships loophole closure hits film funding - papers 23rd Feb

Alterations to the film taxation regime are in discussion at present, to try and encourage more investment in the UK, however, the recent closure of a loophole concerning contributions to partnership businesses has now struck film investment as the Revenue believes partnerships are being abused to offset earning from one company against earnings at another. Worst hit so far is Tulip Fever, says the Times, a £24m working of a novel starring Jude Law and Keira Knightley, which shed 80 employees last week and will be abandoned if £8 million in lost funding is not replaced. Product provid...