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