Tax dodge firm fails

A TAX avoidance firm whose backers are said to have included Sir Alex Ferguson is facing collapse.

Future Capital Partners ran a £2.2bn movie investment scheme used by clients – reportedly including the exManchester United manager and former England bosses Sven Goran-Eriksson and Glen Hoddle – to limit bills through tax breaks to support the UK film industry.

But disaster struck in 2016 when HMRC won a battle for £117m which it said had wrongly gone unpaid.

‘FCP and its group are shortly to go into administration – or more likely – liquidation,’ Tim Levy of the client services department has told investors in a message seen by the Mail and law firm Setfords solicitors.