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Friday, 02 June 2017 - 16:57
Celebs Could Face Huge Tax Bills After Tax Avoidance Legal Ruling
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A number of big-name celebrities including David Bekham and Gary Lineker are among those who have lost a legal bid to overturn a tax bill of £700 million.

They are among more than 1,000 people who invested in the Ingenious film financing scheme in order to gain tax relief.

The scheme, which helped produce massive movies such as Avatar, qualified for tax breaks designed to boost the British film industry.

However, HMRC contended that the scheme relied on artificial losses from the movies concerned, and that meant that it was not a legitimate investment opportunity but a tax avoidance vehicle.

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