HMRC wins court battle to block £117m tax relief scheme

The Times reports the partnership, Eclipse 35, wanted to claim tax relief on a complicated £1bn deal with Disney. However, as part of the government drive to cut tax avoidance by the rich HMRC took the case to court and won.   The report said if the scheme had been successful each of the investment partnership’s 289 members – which included Manchester United manager Sir Alex Ferguson and former England manager Sven-Göran Eriksson – could have secured about £400,000 in tax relief on a personal investment of £173,000.   The decision of a tax tribunal could have a wide-reaching eff...