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U-turn on Partnership Losses

Following lobbying from the UK Film Industry HMRC have back-tracked on the new rules for partnership losses.

Hidden away on the HMRC website is a new Business Brief which explains that the new rules will not apply to certain film expenditure.

It seems that the new restrictions still apply to all other partnerships with non active partners. Bearing in mind that this type of relief for film expenditure is due to disappear in a few months is this really a U-Turn?

 

 

Date: 7th March, 2007
Author: Lisa Spearman

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