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UK Film Council chief warns producers of tougher times ahead after tax clampdown

UK Film Council chief executive of the John Woodward has warned the UK film industry it will have to face up to a tough period of contraction following this month's tax clampdown.'Things will get worse before they get better,' he said.Earlier this month, the Treasury announced it was effectively ending so-called GAAP finance schemes through which wealthy individuals would offset tax against the paper losses of partnership schemes.The impact of that move ...

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