Profits have been hit and films put on hold by a crackdown on film tax
breaks, it emerged today.
Pinewood Shepperton, the listed UK film company, reported operating profits
had dropped from £6.6m last year to £1.6m this year, on the back of difficulties
over the tax regime.
Film investment had halved, the firm said, with films provisionally booked
not getting to the next stage.
The tax incentives for films were regarded as open to abuse through so-called
‘double-dipping,’ leading to changes earlier this year.
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
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