Tax blamed for film company disappointment

UK independent film producer and finance company, Contentfilm, blamed changes in the tax treatment of film financing for reporting an operating loss of £2.5m.

The AIM-quoted company has not financed as many films as a result of the new tax rules, and some of the revenue forecast for this financial year will be delayed until 2006, reports the Financial Times.

In January this year, Screen International magazine reported that just 27 films began production in 2004 against 47 films the year before.

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