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Investors chase advisers over film scheme tax fraud


Nine investors are pursuing their financial advisers for a total of £12m after being advised to invest in a film tax avoidance scheme.

Yesterday, the Crown Prosecution Service announced it is to prosecute five men in relation to the scheme following an HM Revenue & Customs investigation.

It is alleged between January 2002 and July 2011, the five falsely claimed the value of allowable losses and defrauded investors through false accounting documents.

The nine investors say they were advised to place investments in the £125m scheme, but were not made aware of the risks involved by their respective financial advisers.

Claims firm Rebus Investment Solutions is representing the nine investors. The highest individual claim is for £1.8m.

Rebus head of client relations Martin Taylor says there are three advice firms involved but declined to name them.

He says: “The investors are now looking as though they could have lost their equity and they have not had any tax relief. They could be in a catastrophic position.

“This has come to light and clients are wondering what it means for them and the uncertainty is going to be there for a considerable time.”



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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Gillian Cardy @ IFA Centre 1st May 2013 at 1:26 pm

    I thought that name sounded familiar and I wasn’t wrong … any adviser who has ever done business in the film partnership field might do well to batten down the hatches before Mr Taylor works his way through the Rolodex of all his old IFA contacts …

  2. Isnt this the same Mr Taylor that used to flog unregulated investments – possibly not but I am sure I read that somewhere.

  3. Talk about poacher turned gamekeeper.

    No conflicts of interest and data protection issues here then folks.

    I just hope any advisers involved have compliant records so that the ‘clients’ of Rebus can then sue them when they end up with further expense having been given false hope that they will get some of their money back.

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