Celebrities including David Beckham and Gary Lineker fined for investing in a controversial film
Some big names including English football superstar David Beckham, Steven Gerrard's name have come across a potential tax forgery case.
HMRC found 2LL and Ingenious production frequently repeating the Tax waiver program to reduce the taxes on their investment, 480 million pounds was swiped away in total by HMRC as tax bill from big British celebrities (81 in total) after HMRC investigated the Ingenious film production house.
According to report LLP already had made their investors around 2 billion dollars from the tax waiver scheme put forward by English government for the upliftment of English movies. The key point that is HMRC's report highlighted was "the tax plan was to uplift the movie not to bag-in the tax money".
Whether it was an un-knowingly committed mistake or an organized crime, the football star David Beckham had to pay a lot for it; around £100,000 to be exact.
The potential taxes forgery included Wayne Rooney, Steven Gerrard, David Beckham's name to mention a few. After the controversial movie did not qualify the Tax Breaks all of the stars fighting for the claims, around 81 celebrities after LLP's scam couldn't qualify for fat tax break relief rule.
According to HMRC, some movies life of Pi, Avatar had previously qualified the tax relief scheme and had bagged around £2 billion for their investors. But the appeal was put to an end this Saturday. Regardless of the situation, all of the stars have lost the case and are going to pay around £100,000 each for the potential failure to pay their taxes.