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%.
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
Lord Howard Leigh of Hurley discusses the government’s initiatives to mitigate tax avoidance and evasion
Top 50+50: Demand for tax advisory services remains high, but fee pressure is expected in relation to compliance services
The demand for tax advisory services remains high and this looks to continue; but fee pressure is expected in relation to compliance services as the “Making Tax Digital” initiative is rolled out,
While some resistance to change is to be expected, the degree of controversy surrounding HMRC's Making Tax Digital proposals has surprised the government