British Tax Authority puts a Major Damper on U.K. Film Investment Structures
Date:
February 1 2004
On February 10, 2004, the U.K. film industry suffered a major setback when the Inland Revenue (the U.K. 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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