THE UK FILM tax relief system was used by Disney to claim a £22.4m rebate for producing Thor: The Dark World.
The movie, which was filmed primarily around London and at Pinewood Shepperton Studios, was able to claim the relief by spending more than 20% of the film’s total budget in the UK, reports the BBC.
Its total budget was $235m (£137m), and made $645m at the world-wide box office.
While film tax reliefs have proved controversial, due to abuse, they have also been popular. The government extended the relief, and simplified its offering, in the latest Finance Act.
The change sees the proportion of production obliged to take place in the UK drop to 10%, from 25%.
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year