U.K. Settles $2.2 Billion Tax Fight Over Film Investment Scheme

Sept. 6, 2021, 8:12 PM

The U.K. government has offered to settle a tax dispute with individuals who had taken part in a film financing structure that promised tax savings for investors.

The settlement, released Monday, addresses a 2006-2008 scheme for those investing in a film production though a partnership by Eclipse Film Partners LLP. Investors were told that any business losses made by the film could be offset against their personal income tax liabilities.

Instead, the more than 700 investors faced hefty tax bills totaling 1.6 billion pounds ($2.2 billion) from Her Majesty’s Revenue and Customs and a years-long court battle, according to ...

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