I have a client who is an actor and he's wondering if there is a concession that he can invest the tax he has to pay in a film company? Has anyone heard of that?
Simon Lewis
Replies (1)
Please login or register to join the discussion.
FILM INVESTMENT TAX CONCESSION
What your client may be referring to is tax relief for investments in film production companies which have been approved under the Enterprise Investment Scheme. There are a number of strict rules in order to obtain and maintain approval. Basically he can receive a tax reduction of 20% of the qualifying investment. Gains made, if held for at least 3 years are tax free and any losses relievable against other income.
If you need more information visit www.graham-assoc.co.uk where you will also find a link to the Enterprise Investment Scheme Association
Rob Graham
Graham Associates (International) Ltd