THE UK FILM tax relief system was used by Disney to claim a £22.4m rebate for producing Thor: The Dark World.
The movie, which was filmed primarily around London and at Pinewood Shepperton Studios, was able to claim the relief by spending more than 20% of the film’s total budget in the UK, reports the BBC.
Its total budget was $235m (£137m), and made $645m at the world-wide box office.
While film tax reliefs have proved controversial, due to abuse, they have also been popular. The government extended the relief, and simplified its offering, in the latest Finance Act.
The change sees the proportion of production obliged to take place in the UK drop to 10%, from 25%.
CIot urges HMRC to consider a delay to the 1 September 2017 introduction of its new corporate offence of failure to prevent the criminal facilitation of tax evasion
The current business rates system is over-complex and reform is needed, but reforms should focus first of all on simplifying the appeals process, particularly for businesses which are subject to business rates exemption
The CIoT has called on the government to rethink its approach to ensuring online sellers pay the correct amount of VAT.
Jane Ellison to serve as 'tax minister' following ministerial responsibilities for public health. David Gauke become chief secretary to the Treasury