Investors in film schemes run by Ingenious Media were given the right to appeal an earlier High Court decision, which blocked their attempt to stave off HMRC tax demands.
The Court of Appeal's ruling means about 80 investors can continue with their fight for a judicial review challenge against HMRC, after the taxman asked for immediate payment of tax it deemed they had avoided years ago. HMRC had challenged a number of schemes that, it argued, took advantage of reliefs aimed at boosting investment in the British film industry. In January it was revealed two of Ingenious' disputed film schemes had around 70 former and current footballers signed up, including Gary Lineker, David Beckham, Steven Gerrard and Wayne Rooney. HMRC, where it suspects tax is ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes