Tax abuse caught on celluloid

Referring to initial statements on such schemes in last December’s Pre-Budget Report, Primarolo said the government would continue to monitor use of tax relief. Currently, the focus in on so-called sale-and-leaseback schemes, which offer investors the chance to get a tax advantage bigger than the amount invested, while avoiding taxable income at a later date. Relief on film-making will change from 1 April this year, with small films set for benefits worth up to 20% of total qualifying production costs. Large budget films will be able to claim up to 16% of total qualifying production cost...