Shepperton took advantage of tax breaks to grow the company over
the past year, according to its latest figures.
The company saw turnover climb to £40.7m in to year end 31 December 2006
compared with £33.4m a year earlier. Operating profit before exceptional items
leapt to £9.1m from £5.3m.
The government reintroduced tax breaks for film-making in the 2006 Budget,
based on a points system which decided whether a film is classed as British or
not. Under previous rules tax credits were based on whether a proportion of a
film was made in the UK.
Pinewood chairman Michael Grade said the government had created a competitive
tax environment for film production, but warned that abuse of the scheme could
be costly for legitimate productions.
‘Tax avoidance abuse runs the real risk that the merits of any designated
might be called into question by government,’ said Grade.
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...