View the article online at http://citywire.co.uk/new-model-adviser/article/a644397
Stars could face huge bills as tax case looms
by Daniel Grote on Dec 10, 2012 at 08:10
Celebrities could face tax bills running into millions of pounds if a looming tax tribunal case goes against film scheme provider Ingenious Media, according to the Mail on Sunday.
Investors in the billion schemes include footballers David Beckham, Steven Gerrard and Wayne Rooney; TV presenters Jeremy Paxman and Anne Robinson; and pop star Robbie Williams.
According to the Mail, HMRC will argue its case against Ingenious at a tax tribunal, with hearings likely to begin next year. Ingenious has called for the tribunal to bring to a head the Revenue's long-running investigations, it added.
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.'
News sponsored by:
Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.