Film industry scheme puts stars in HMRC spotlight

Some of the UK’s best known celebrities have been embroiled in a film
investment tax relief probe.

The stars are said to have invested in schemes marketed by finance company
Ingenious Media which generated tax breaks.

Footballer Wayne Rooney and TV presenter Anne Robinson are allegedly among
those who invested in a fund called Inside Track, which brought tax benefits to
investors in the film industry,
to the Daily Mail

HMRC said it could not comment on the tax affairs of named individuals. A
spokesman said:

‘The tax breaks for investment in British films has been significantly
reformed. The loopholes which allowed the tax relief to be abused with no
benefit to the film industry have been closed.

‘If we find evidence of abuse, we will take steps to put things right.’

A spokesman for Ingenious told the paper: ‘Our film partnerships are not tax
schemes, they are film schemes.

‘It is standard practice for HMRC to inquire into schemes where tax relief
has been claimed on losses. We welcome the scrutiny.”

Further reading:

Dredd creators eye film tax breaks

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