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Gearing Up for Litigation

Jonathan Levy Partner LevyWatters and Michael Avient Tax Associate Turner Clark examines HMRC's concerns about the geared elements in film technology and scientific research partnerships
As a tax adviser and a tax litigator we are aware that there are those cynical folk who take the view that sound investment and altruism do not mix. Certainly investing in British Qualifying Films or indeed films generally must be one of the riskiest investments of all. Put simply unless set in New Zealand and featuring characters with pointy ears (or furry feet) films do not generally generate any return for the private investor.
Investment in technology and scientific research are often seen in a similar vein.

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