In an amendment to the finance bill, films that cost more than £500,000 for each hour of output and which had begun shooting before 30 June have been exempted, at a cost of £50m to the government coffers.
The reprieve followed Gordon Brown’s announcement in his April Budget statement that tax relief would be withdrawn for all productions other than those intended for cinema release with immediate effect.
In the past, producers had been able to claim relief on money raised from individuals looking for tax breaks, but Brown believed the concessions had been abused by soap operas and game show producers.
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...