Source: BBC News 5th August 2016
HM Revenue and Customs claimed victory in a tax avoidance battle over schemes run by Ingenious Film Partnership and Icebreaker, worth more than £820m.
HMRC said the scheme saw users claim more in tax relief than they had invested.
Jennie Granger, Director General of Enforcement & Compliance, HMRC, said: “the schemes involved people claiming far more in tax than they invested in the first place. We always say that if something is too good to be true then it probably is. And in this case, the long legal battle will mean that investors face even bigger bills.”