A tax relief scheme for low-budget UK films is to be extended until the end of March next year, despite expectations that it would end in the summer.
The so called section 48 relief for movies budgeted at under £15m will now run much longer than expected and amid hopes that it would be replaced altogether.
Section 48 was introduced in 1997 but was extended in 1999 and 2001. The industry has complained bitterly that failure to clarify the future of section 48 has made the planning of production schedules extremely difficult.
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
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