FTSE 100: 7364.56 ▼ -60.84 (-0.82%)

Beckham, Rooney and Lineker lose film scheme appeal

Beckham, Rooney and Lineker lose film scheme appeal

by William Robins Jan 02, 2018 at 08:38

Football stars Wayne Rooney (pictured), David Beckham and Garry Lineker face stumping up for their share of a £480 million tax bill after losing a legal appeal for tax relief on a film investment scheme.

HM Revenue & Customs (HMRC) had previously rejected Beckham, Rooney and Linekar’s claim for tax relief over film industry investments. That decision was appealed, but a court has upheld HMRC’s position.

In total 81 celebrities and sports stars invested a minimum of £100,000 in Ingenious Film Partners 2 LLP, which brought the likes Avatar, Life of Pi and Girl With a Pearl Earring to the big screen, according to reports.

Other investors included Steven Gerrard, Ant and Dec and Davina McCall.

A total of £1.2 billion was invested in the scheme.

This is the latest turn in a long running dispute between investors and HMRC after it judged these vehicles were used to avoid tax.

The tax office had argued that production costs associated with making the films were capital costs, meaning investors were not due any tax relief on this either.

The legal battle is expected to continue.

Add a comment

Comments  (12)

  • Mark Stringer: 

    A squeaky voiced cartoon, an over hyped dunce and a crisp advertiser who thinks his social commentary via twatter amounts to more than the sound of a flushing urinal. Excellent news that their greed on this occasion has been halted.

    If only the moralising Jimmy Carr could join them.

    16:46 on 02 January 2018

  • Gonk: 

    So agree with all the above. In addition the super-moralising Bob Geldof is included with all these creepy elite tax dodgers.

    Well done HMRC and the courts.

    17:04 on 02 January 2018

  • Mark Stringer: 

    Geldorf. Marvellous news. Almost like a second Christmas.

    Off to treat myself to large bag of chips to celebrate.

    17:16 on 02 January 2018

  • sloccy123: 

    Great news- Couldn't happen to nicer ex millionaires. Serves the greedy tax dodgers right.

    Let's hope they lose any appeals.

    17:47 on 02 January 2018

  • sloccy123: 

    That should be " Ex Footballer Millionaires"-including Rooney(who is past his best!)

    17:49 on 02 January 2018

  • John Russell: 

    Oh dear boys, just because they have more than you...

    Tax relief was constructed by the chancellor to provide investment to the film industry.

    Now nobody likes the idea, just like you.

    Tax the rich ! Go Jeremy !

    18:07 on 02 January 2018

  • Tony Airey: 

    @John Russell - I think we may be on the same page here.

    To be successful in the UK, particularly as a sportsman, is to attract the uninformed derision and blatant green-faced envy of a section of the population, A section of the population which lacks the ability to excel in their own field.

    18:42 on 02 January 2018

  • Mark Stringer: 

    Tony Airey, Oh,deary,dear, is that the sound of financial advisors I hear missing the point perhaps even on purpose.

    Sod all to do with envy, cheerleaders of the trio, simply the cheek of the greedy.

    Now if we were talking about a mans game like rugby.

    Beckham, Knuckles and moralising crisp lad won nothing for England for all their “skills” and perhaps if half as much effort was put into effort on the national field as it has been in dodging tax they would have.

    I’m genuinely looking forward to costs being awarded against the collective.

    19:00 on 02 January 2018

  • Peter Rigg: 

    Is this Citywire or The Sun?Why is who invested of the slightest relevance?And why are you commenting on it?An outline of the arguments made would have been interesting as they would seem to be finely balanced.Perhaps you considered whether your readers might be interested in how the courts found the way they did and decided against repoting it?The envy driven celebrity bashing above sadly suggests you were right not to bother.

    20:18 on 02 January 2018

  • Gonk: 

    The comments relating to envy here are thoroughly well off the mark.

    I am a rampant, rabid capitalist and loathe the possibility of Corbyn getting elected by a bunch of vacant snowflakes, but I do willingly pay my taxes and cannot abide the hypocrisy of the moralisers such as Geldof, Bono et al who are deep in such edgy schemes whilst lecturing the rest of us on how to behave properly. [by the way Mark, I think Geldof is spelled thus rather than the Fawlty Towers' iffy salad way!]

    16:15 on 03 January 2018

  • Mark Stringer: 

    Gonk, it’s spelt very differently in my house and cannot be replicated here for the sake of common decency lol. However my attempt at moving between iPad and laptop combined with my poor spelling frequently trips me up.

    Yes, the comments certainly have nothing to do with envy, but hypocrisy on steroids and like much discussed on these forums is misunderstood by some purposely.

    I’m also guessing that the advisors who put these people in the tax dodge are keen to avoid being chased for compo by the tax dodgers themselves.

    16:30 on 03 January 2018

  • Mark Stringer: 

    Peter Rigg, if you don’t know the difference between each;Sun or Citywire I’d strongly suggest tat you actually read the posts again with glasses this time.

    It is a relevant subject and worthy of comment given the greed and hypocrisy that abounds.

    Much like the international opponents goal the three “wise men” of football missed, you also spectacularly miss the point.

    16:36 on 03 January 2018

Please use a browser with javascript enabled in order to post a comment

Mobile | Desktop