The Inland Revenue has effectively closed down the most popular form of film partnership investment ...
The Inland Revenue has effectively closed down the most popular form of film partnership investment scheme from next July. As announced in last week's Budget, any tax relief available on so-called Section 48 partnerships will go direct to filmmakers from next July, cutting third parties such as investors out of the process. The legislation will not be retrospective and investors with money in existing Section 48 schemes, such as those offered by Close Brothers and Matrix, for example, will be able to go on claiming their tax relief as it currently stands. Section 48 relief is due to expi...
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