Other Citywire websites
Stay connected:

View the article online at http://citywire.co.uk/new-model-adviser/article/a659492

Architect of tax avoidance crackdown to act for film scheme investors

by Daniel Grote on Feb 18, 2013 at 07:58

Architect of tax avoidance crackdown to act for film scheme investors

Graham Aaronson, the architect of the government’s clampdown on aggressive tax avoidance schemes, is to act on behalf of investors in film scheme Eclipse 35, the Mail on Sunday has reported.

The scheme is backed by around 300 wealthy investors, including Manchester United manager Alex Ferguson and former England manager Sven-Goran Eriksson. HM Revenue & Customs (HMRC) won a tribunal case against the scheme last year, a ruling that will deny investors £117 million in tax relief.

Aaronson, who drew up the government’s general anti-avoidance rule, said he did not see any conflict in representing the investors. ‘You can’t impose your judgment on whether something should be argued in court because you may not like the scheme as a whole. If these schemes are abusive, let’s put in place a rule to stop them,' he said.

A HMRC spokesman told the Mail: ‘Aaronson is a leading tax barrister, advising a range of clients. He is not a Revenue employee and is free to represent commercial clients in the normal way.’

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Opportunities emerge as production moves back home


As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.

Today's top headlines

A spotlight on Alastair Mundy


Alastair Mundy met Citywire's Daniel Grote at the London Stock Exchange Studios for a detailed interview about the Investec Cautious Managed fund.


Read more...

Adviser Workshop: How to implement a fixed-fee model

by Jun Merrett on Jul 22, 2014 at 14:38

Sorry, this link is not
quite ready yet