TaxCorporate TaxTreasury crackdown forces Bond to relocate

Treasury crackdown forces Bond to relocate

The government has been accused of driving James Bond into tax exile in the Czech Republic because of its policy on film tax

The charge was levelled by Tory shadow chief secretary Teresa Villiers, who
complained about the way the Treasury cracked down on film industry tax
avoidance which, she said, meant Pinewood Studios, Bond’s traditional home since
Dr No, lost out to Barrandov Studios.

Speaking ahead of the launch of the marketing campaign of Casino Royale in
Cannes, she told a Commons Committee debating the finance bill, that the result
was a collapse in Pinewood’s profits from £6.5m to just £571,000.

Ed Balls, the chancellor’s new economic secretary, said that in 2004 there
were 133 productions in the UK. This fell ‘marginally’ to 124, but numbers this
year would show the continuing engagement of the British film industry in
production.

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