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British Tax Authority puts a Major Damper on UK Film Investment Structures
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Date: February 1 2004 |
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On February 10, 2004 the UK film industry suffered a major setback when the Inland Revenue (the UK Tax Authority) put an end to and effectively closed down the burgeoning equity funds sub-sector. Some seventeen production partnerships managed by financiers that used "Generally Agreed Accounting Principles" ("GAAP") are understood to have been affected.
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