Litigation proceedings against Scion Film Schemes
Peters & Peters is representing a group of investors seeking redress against Scion Films for losses incurred as a result of investments in film tax schemes. Scion promoted a number of tax schemes for films such as Atonement, Eastern Promises and Mr Bean’s Holiday.
The proceedings are in addition to, but separate from, the ongoing claims being pursued against Ingenious Media.
Peters & Peters is representing claimants seeking redress for losses incurred to HMRC that have arisen as a consequence of three Scion film schemes which were promoted and managed by Scion Limited and their subsidiary companies.
As a result of the mis-selling of these schemes, investors face a significant tax liability.
Peters & Peters is representing a number of claimants including former sports professionals, similar to the concurrent claims against Ingenious Media.
Jonathan Tickner, Partner at Peters & Peters, who is leading the case, commented:
“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. Given the finite earning potential of sportsmen, and the fact that the schemes were invested in good faith, they are seeking to redress this injustice.’’
Forbes – Film stars, Top soccer players snared in second U.K. movie investment tax dodge
FT Adviser – Premiership footballers seek redress over film tax schemes
The Times Brief – Ex-footballers sue over film tax avoidance schemes
Wealth Manager – Football stars sue over another film scheme.
International Adviser – Law firm pursing Ingenious targets second film scheme
International Investment – Footballers said to be among investors in latest film tax legal case