Following months of negotiations with the film industry, a new version of section 48, the tax code which provides relief for British film-makers will be rubber stamped on Tuesday, according to The Guardian.
The paper reports that from 2006, UK films costing up to £20m can claim back 20% of their budgets through the new arrangement – meaning an extra £4m of funding.
Some filmmakers claimed the sudden closure of a partnership loophole in February this year caused their productions to close down – the loophole was closed by the Inland Revenue, following what it called significant abuses.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...