Tax shelters through film partnerships

Section 48 relief, which permits a 100% write-off of investment in qualifying film, was introduced i...

Section 48 relief, which permits a 100% write-off of investment in qualifying film, was introduced in the first Gordon Brown mini-budget on 2 July 1997. Since then billions have been invested and the Inland Revenue has given away well over £1bn in tax relief. The latest rumour is that the Chancellor will not extend Section 48 relief beyond its currently scheduled expiry date (July 2005). If this is so, it will mean the end of a superb tax shelter which to date has been enjoyed by a comparatively small number of high net worth investors. Investment in film partnerships can potentially ...