You are here: Home - Household Bills - News -

Celebs face multi-million pound tax bills over film funds

0
Written by:
10/12/2012
A number of celebrities, including pop star Robbie Williams, are facing multi-million pound tax bills if a tribunal judgement goes against VCT provider Ingenious Media.

According to the Mail on Sunday, Revenue & Customs has told Ingenious Media its schemes are designed to avoid tax rather than promote films.

A tax tribunal is scheduled to take place next year, following HMRC’s verdict, which could result in a number of high-profile celebrities being handed seven-figure tax bills.

Celebrities such as pop star Robbie Williams and film director Guy Ritchie have invested in the film schemes.

A number of footballers, including David Beckham, Steven Gerrard and Wayne Rooney, also invested in the schemes.

Speak to the Mail on Sunday, Ingenious Media Investments chief executive James Clayton said: “We welcome the opportunity this gives us to finally bring the matter before the tribunal where we will have our case heard by an independent assessor.”

According to the FT, around 500 investors are considering complaints against their advisers for allegedly mis-selling investments in film production companies, over the course of the last decade.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • Marcus Bank (and others) have been knocked off the top of the easy access best buy tables with this new launch https://t.co/MUrKo2Uf6g
  • Banish Blue Monday with these quick money wins - https://t.co/mzlfsxSwSp
  • Given the Brexit uncertainty, you may be looking to protect your pounds ahead of your next holiday. Here are five w… https://t.co/pjn2d3P41E

Read previous post:
Alexander: UK not heading for triple dip

The UK is not heading towards a triple dip recession, the Treasury chief secretary has said.

Close