close

Practice

Business

Technology

Regulation

Resources

Rankings

Accountancy Age – Content Calendar

    Information

    HMRC wins £117m court clash with film partnership

    HMRC wins £117m court clash with film partnership

    A film partnership looking to claim large tax reliefs is blocked in the courts by HMRC

    Author Reporter Date published April 24, 2012 Categories

     

    HM REVENUE & CUSTOMS has won a court case to prevent a complex investment partnership from claiming £117m in tax reliefs.

    The partnership, Eclipse 35, involved Manchester United boss Sir Alex Ferguson and former England and Leicester City manager Sven-Göran Eriksson and was looking to claim tax relief on a £1bn film deal with Disney, according to The Times.

    Had the deal been successful, the 289 investors in the scheme would have received approximately £400,000 in reliefs on a personal investment of £173,000.

    It is believed the implications of the case could be far-reaching for other film investment schemes as well as others designed to achieve large tax reliefs.

    Share

    More about:

    Get the latest analysis and reports delivered to your inbox daily

    Resources & Whitepapers

    Resources & Whitepapers

    The importance of UX in accounts payable: Often overlooked, always essential
    AP

    The importance of UX in accounts payable: Often overlooked, always essentia...

    2y Kloo

    The importance of UX in accounts payable: Often ov...

    Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

    View article
    The power of customisation in accounting systems
    Accounting Software

    The power of customisation in accounting systems

    2y Kloo

    The power of customisation in accounting systems

    Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

    View article
    Turn Accounts Payable into a value-engine
    Accounting Firms

    Turn Accounts Payable into a value-engine

    5y Accountancy Age

    Turn Accounts Payable into a value-engine

    In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

    View resource
    8 Key metrics to measure to optimise accounts payable efficiency
    AP

    8 Key metrics to measure to optimise accounts payable efficiency

    2y Kloo

    8 Key metrics to measure to optimise accounts paya...

    Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

    View article

    Related Articles

    No plans for MTD for corporation tax, says HMRC
    Corporate Tax

    No plans for MTD for corporation tax, says HMRC

    9m Accountancy Age

    No plans for MTD for corporation tax, says HMRC

    HMRC has officially ruled out plans to introduce Making Tax Digital for Corporation Tax, confirming the shift in its July 2025 Transformation Roadmap....

    View article
    Small firms behind bulk of £47bn UK tax gap
    Corporate Tax

    Small firms behind bulk of £47bn UK tax gap

    10m Accountancy Age

    Small firms behind bulk of £47bn UK tax gap

    The UK tax gap held steady at 5.3% in 2023–24, translating to £46.8 billion in unpaid taxes, according to the latest HMRC statistics. While the percen...

    View article
    HMRC red tape casts UK SMEs £25bn a year
    Accounting Firms

    HMRC red tape casts UK SMEs £25bn a year

    1y Accountancy Age

    HMRC red tape casts UK SMEs £25bn a year

    UK small businesses are facing an annual tax compliance burden nearing £25 billion, according to recent findings by the Federation of Small Businesses...

    View article
    Business tax reforms from 6 April – Higher NICs, FHL changes & more
    Budget 2025

    Business tax reforms from 6 April – Higher NICs, FHL changes & more

    1y Accountancy Age

    Business tax reforms from 6 April – Higher NICs, F...

    Businesses across the UK should prepare for several significant tax changes coming into effect from 6 April 2025, according to the ICAEW. While some o...

    View article
    The online accounts and Company Tax Return system to shut down in 2026
    Companies House

    The online accounts and Company Tax Return system to shut down in 2026

    1y Accountancy Age

    The online accounts and Company Tax Return system ...

    Businesses that have relied on the joint online filing service for Company Tax Returns and accounts submissions will need to find alternative solution...

    View article
    Dave Chaplin: ‘IR35 is a growth issue for the Tories’
    Budget

    Dave Chaplin: ‘IR35 is a growth issue for the Tories’

    3y Sam Alberti

    Dave Chaplin: ‘IR35 is a growth issue for the Tori...

    As the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...

    View article
    CTCs herald new era of control for tax authorities
    Corporate Tax

    CTCs herald new era of control for tax authorities

    6y Tom Lemmon

    CTCs herald new era of control for tax authorities

    Stricter controls on VAT compliance is set to shut down the “colossal” VAT tax gap. Read More...

    View article
    R&D tax relief claims are rising, HMRC report reveals
    Corporate Tax

    R&D tax relief claims are rising, HMRC report reveals

    8y Emanuela Hawker , Reporter

    R&D tax relief claims are rising, HMRC report ...

    There has been a percentage increase in the number of claims made by companies, but more needs to be done Read More...

    View article