Stewarts is acting for a number of investors in Ingenious Media’s film/game investment partnerships, after being branded as tax avoidance by HMRC.
Group action begun on behalf of 220 investors who have together invested over £100m in cash – with losses thought to exceed that figure.
The action centres on the claim that investors were “assured that these partnerships were entirely legitimate trading businesses seeking to make profit through financing films and video games”.
The long awaited decision from First Tier Tax Tribunal largely finds in favour of HMRC and against Ingenious Media’s film/video game investment partnerships.
The full FT article (subscription required) can be found here: Investors sue over film scheme tax losses
You can find further information regarding our expertise, experience and team on our Tax Litigation pages.