Film industry tax avoiders face multi-million pound bill
Investors in a financing scheme aimed at helping the UK film industry are being asked to repay "multiple millions of pounds" following a court ruling.
HMRC is pursuing investors in the Eclipse scheme, including celebrities, financiers and sports stars, for up to 20 times their original investment.
Courts ruled that the film investment partnership was in reality a tax avoidance scheme.
But an advisor to many of the investors said some of them now face bankruptcy.
Film industry investment Nick Wood, a partner at Newport Tax Management, said: "There are a large number of people... read more
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