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Fergie and Sven hit by HMRC victory in tax case
by Daniel Grote on Apr 24, 2012 at 07:50
Manchester United manager Alex Ferguson and former England boss Sven Goran Eriksson have been hit by a HM Revenue & Customs (HMRC) tribunal victory that will deny wealthy investors £117 million in tax relief.
HMRC has won its case against Eclipse 35, a film investment partnership, barring it from claiming tax relief on a complex £1 billion deal with Disney, according to The Times.
The paper claimed that had the deal succeeded, investors in the scheme, which include Ferguson and Eriksson, could have enjoyed an average of £404,000 in tax relief on an investment of £173,000.
Experts have claimed the ruling could have implications for other film schemes and investments designed to achieve high tax reliefs.
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