David Beckham, Steven Gerrard, Ant and Dec face million pound tax demands
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HM Revenue and Customs believes tax relief plans by Ingenious Media were a means of dodging tax for rich celebs
David Beckham, Ant and Dec and a string of other celebrities could be hit with tax demands totalling millions of pounds.
In March the Mirror reported how they pumped their money into Ingenious Media – a movie investment company that was being probed over tax-avoidance allegations.
The firm has now written to 1,300 past and present investors to warn them the crackdown may result in “accelerated payment notices”.
Ingenious’s schemes boosted British films while offering substantial tax relief to clients.
But HM Revenue and Customs believes they were a means of dodging tax rather than a legitimate investment.
A tribunal on the matter will start in November. But new rules brought in by Chancellor George Osborne will force thousands of people who used suspected tax avoidance schemes to pay money back before any hearing.
Ingenious Media said the measure was “indiscriminate and unfair.”
Bills ranging from tens of thousands to millions of pounds will be issued to up to 33,000 people in the next few weeks.
Other investors in Ingenious included composer Andrew Lloyd Webber, Sam Laidlaw – the boss of British Gas owner Centrica – and Liverpool FC captain Steven Gerrard.
The investors will only be refunded if Ingenious later wins its court tribunal. They face a choice of reaching an immediate settlement with HMRC or paying in full when the matter is settled in court.
Lord Lloyd-Webber earlier said he was told by advisers he was being “almost philanthropic by investing in the British film industry”.
He added: “At no time did I consider it solely a tax scheme.” He did not comment yesterday.
A spokesman for the Beckhams said: “The Beckhams have always paid their taxes in full and have never been involved in aggressive tax avoidance schemes. They have also been long-time supporters of the creative industries.”
FilmMagic
Ant and Dec
Ant and Dec’s representatives declined to comment as did Gerrard’s. A spokesman for Mr Laidlaw also refused to comment but a source said he stopped investing in the scheme in 2011.
In a statement yesterday Ingenious Media said it was “fundamentally unjust” to demand payment before the tax tribunal.
It added: “Ingenious is proud of its record in financing hit films, including Avatar, Life of Pi and The Best Exotic Marigold Hotel, which have generated more than £1billion of taxable revenue for the UK Treasury.”
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