Film partnerships help with heavy tax bills

Film partnerships provide a means of sheltering income and capital gains from tax and were introduce...

Film partnerships provide a means of sheltering income and capital gains from tax and were introduced in 1997 with the aim of helping to finance the UK film industry. They involve sale-and-leaseback deals on the distribution rights of films that have already been made. Film partnerships are particularly useful to people with significant income tax bills, as the rules allow sheltering of income from up to three years ago. However, they require up to a 15-year commitment and are financially complex. How does the partnership work& Up to 19 investors put money into a general partnership set ...