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Tribunal Finds That Film Partnerships Were Carrying On A Genuine Trade
In Take 3.9 TV Partnership and others v HMRC [2026] UKFTT 696 (TC), the First-tier Tribunal (FTT) held that the appellants were carrying on a genuine trade and therefore the equity-funded portion of their film production expenditure qualified for tax relief, but the debt-funded expenditure was incurred only to enhance tax relief and therefore did not qualify for tax relief
RPC