David Beckham, Gary Lineker and Jeremy Paxman are among a string of celebrities who have won against the taxman in a multi-million-pound legal battle. The ruling applies to 4 per cent of £700million the taxman claimed from investors in Ingenious Media. (Pictured, David Beckham)The case dates back to the early 2000s when ‘sideways loss relief’ rules were still permitted. In 2016, HMRC said the schemes amounted to ‘tax avoidance’ as they tried to use ‘artificial losses’ to avoid £568million of tax. Contrary to stories, I have no legal involvement in any related court case.’

Source: Daily Mail August 06, 2021 21:18 UTC