Premiership footballers seek redress over film tax schemes
11 Jan 2018

A group of investors including Premiership footballers is seeking redress against Scion Films for losses incurred as a result of investments in film tax schemes.

Scion allegedly promoted a number of tax schemes for films such as Atonement, Eastern Promises and Mr Bean’s Holiday.

The claimants allege they were mis-sold investments in three Scion film schemes promoted and managed by Scion Limited and their subsidiary companies.

They are seeking redress for unexpected tax bills incurred to HM Revenue & Customs arising from the investments.

Jonathan Tickner, partner at law firm Peters & Peters, who is leading the case against Scion, said: “These film tax schemes were clearly mis-sold to clients, who had been advised that they were legal and had been approved by HMRC.

“Our clients, which include former Premiership footballers, have all suffered significant financial loss with some facing bankruptcy.

– Damian Fantato, FT Adviser

Count reading this article to your CPD minutes, by signing up to our CPD Wallet

Must Read

Bearing witness to financial crime, across party lines

If it seems like an odd recipe for financial oversight, it’s also a surprisingly effective one: take five to ten congressional staffers, exile them to a squalid basement office with “hard-boiled” charm in the U.S. Senate’s oldest building, give them access to subpoena powers and a seemingly endless series of… Read More

Anti-money laundering analysis: UK FCA and EU blacklists update

A key element in the application of the risk-based approach (RBA) to financial crime is the identification by a firm of those countries with which its customers are closely linked and which are also adjudged to be high risk in financial crime terms. There are many lists of such high-risk… Read More