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07 Nov 2011
A £117m FILM investment scheme involving Manchester United manager Sir Alex Ferguson is the subject of a tax tribunal currently being heard.
Ferguson (pictured) and former England manager Sven-Goran Eriksson invested in a Future Films scheme to buy rights to distribute two Disney films, the This is Money website has reported.
The scheme's 250 members claimed they made huge losses on their investment, which they could set against their income to reduce tax bills, which is due to yield £117m in promised tax benefits.
HM Revenue & Customs has challenged the rebates and a tribunal ruling is due imminently.
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