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Showing posts from September, 2016

Walt Disney's Four British Tax Feature Films (1950 to 1954)

At one time a large amount of American motion picture studios had money in British banks for overseas productions. Then a little interruption called World War Two came about. After the war the studios were set to remove their funds from the British banking system, but they ran up against "Double Taxation Without Representation". To remove their money, which had accumulated a large amount of interest, the studios would have to pay first British Taxes and secondly United States Taxes for bringing those funds back home. The studio's solution to the problem was to make movies in the U.K. with mainly British crews. Thereby dodging the taxes in both countries.

So it was with Walter Elias Disney who had $8.5 million 1950 dollars. He formed "Walt Disney British Films, Ltd." For those of my readers who think that was a small sum. The same amount today, in September 2016, would be $85,189,089. Also as Disney did not remove all the money at one time, but only as need. Wha…