View more on these topics

Five face charges in £125m film scheme tax fraud


The Crown Prosecution Service has announced it is to prosecute five men in relation to a £125m film tax avoidance scheme.

Following an investigation by HM Revenue & Customs, CPS deputy head of fraud Andrew Penhale today confirmed charges have been authorised against Keith Hayley, Robert Bevan, Charles Savill, Cyril Megret and Norman Leighton.

It is alleged between January 2002 and July 2011, the five abused tax relief that allows investors in the British film industry to offset losses against other tax liabilities.

The CPS alleges the five falsely claimed the value of allowable losses and defrauded investors through false accounting documents.

Penhale says: “Keith Hayley, Robert Bevan, Charles Savill, Cyril Megret and Norman Leighton will each face three charges: conspiracy to cheat the public revenue, conspiracy to defraud and conspiracy to falsify documents.

“This decision to prosecute was taken in accordance with the Code for Crown Prosecutors. We have determined that there is a realistic prospect of conviction and that a prosecution is in the public interest.”

All five have been summoned to appear before Birmingham Magistrates’ Court in 18 June.


Friends Life bows to pressure and publishes IP claims data for first time

Friends Life has bowed to pressure and published its income protection claims statistics for the first time. The insurer paid out 87 per cent of all new income protection claims in 2012, having received 497 claims. Of these, 45, or 9 per cent, were declined because the medical definition was not met with 18, or […]

L&G doubles workplace pension sales to £202m

Legal and General more than doubled its workplace pensions sales in the first quarter of 2013 to £202m, compared to £94m in the same period in 2012. L&G’s Q1 results show the insurer processed over 120,000 auto enrolments in the period taking its workplace platform assets to £6.9bn. It adds it is expecting to add […]


FCA bans two brokers over fraudulent mortgage applications

The Financial Conduct Authority has banned two former directors of a Glasgow-based mortgage brokerage for submitting fraudulent mortgage applications. Douglas Jones and his son Derek Jones, of Which Mortgage, have been banned after the regulator found they failed to ensure the firm had appropriate controls when submitting mortgage applications. Douglas Jones has also been fined […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm