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Torres faces £2m tax bill over Twilight film scheme

by William Robins on Dec 11, 2012 at 10:50

Torres faces £2m tax bill over Twilight film scheme

Footballer Fernando Torres could be hit with a £2 million tax bill for investing in a scheme that helped fund the Twilight films.

The Chelsea star invested in a scheme alongside Manchester City’s Carlos Tevez, who put in £50,000, operated by film investment business Scion, according to the Daily Mail.

It said Torres invested £1 million in two film schemes which borrowed £800,000 for every £200,000 put in by an investor.

The £1 million was used to invest in the films while loaned money was set aside to repay the bank.

The investor’s cash bought shares in the scheme. Investors claimed that because the shares became worthless they had lost £1 million. The loss was used to offset their income tax bills.

The paper said HM Revenue & Customs was looking at investors' tax returns.

8 comments so far. Why not have your say?

Harriet Marlow

Dec 11, 2012 at 11:20

I got as far as "helped fund the Twilight films" and gave up. Fernando - how COULD you? Have you no idea of the suffering you have caused the millions of us who have to deal with teeny-bopping "Twihards", swooning away whilst we're trying to read 'real' works of literature? You subjected us to Kirsten Stewart's "acting" for FIVE years. You subjected us to Taylor Lautner, for goodness sake.

Surely, if funded through a vehicle of dubious legality, we can rid ourselves of this rubbish? If not on the grounds of 'genuine awfulness'.

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David Hanby

Dec 11, 2012 at 11:27

Ha ha, well put Harriet.

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Paul Howard via mobile

Dec 11, 2012 at 11:42

Seems just like a dodgy tax scheme to me!!

What was the actual purpose of the scheme?

Was it a true commercial entity for example? The info above is not clear, was the loan invested or held back and ultimately repaid the loan?

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Stephen Avann

Dec 11, 2012 at 11:58

More trouble for our ex striker. Seem's he's come unstuck again.

Improving under Rafa @ Chelski though

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Philip Dodd

Dec 11, 2012 at 12:38

Speculation continues that he will also lose money for his part in "Footloose" last year.

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Richard Hardy

Dec 11, 2012 at 16:28

Good news for Chelsea, he'll have to start banging the goals in to clear his tax bill.

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PAUL WOOLLEY

Dec 12, 2012 at 13:20

Hardly Richard, A mil is about 6 weeks wages for the poor boy !!!!!!!

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Richard Hardy

Dec 14, 2012 at 14:32

@ Paul, just in time to raise his profile for the transfer window.

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