How it works

INVESTMENT Disney film Enchanted THE schemes offered tax relief on money invested in the film industry, into films such as Disney’s Enchanted.

They were popular from 2000-2004, when the Labour government backed British movie makers with tax breaks.

Kingsbridge advisers David McKee and Kevin McMenamin offered financial management to footballers and agents.

The film schemes also attracted other celebrities and business tycoons.

An investor might be asked to pay £100,000 into the scheme. That would be boosted by a bank loan of £900,000, taking their total investment to £1million.

They could delay paying tax on all of this money for the duration of the scheme, often 15 years.

Experts say HMRC then removed the tax breaks, but claim advisers kept on recommending the schemes.

Solicitor Julia Norris told how one property investor put in £300,000 but faces a £7million tax bill as loans took his investment to around £10million.

It was sold as a “cash flow advantage”, with the investor eventually paying the tax. But HMRC argued it was a sophisticated means to avoid tax. WHATEVER happens to Manchester City in tonight’s Champions League showdown with Liverpool, their players will not be undernourished.

For the likes of Kyle Walker, Ilkay Gundogan and Kevin de Bruyne, dinner at home is often created in their own kitchens by a Michelin-starred chef.

The idea top footballers have EVERYTHING done for them is only the slightest of exaggerations, trust me.

Players are assets, why give them the distraction of paying their Council Tax themselves when they could be thinking about 4-3-3? It is like that, seriously.

And the profession is so competitive, the rewards so vast, footballers want to concentrate on one thing only. Playing.

That is why they will hand over their financial affairs to whoever comes highly recommended.

Look, the buck stops with these indulged, pampered players, or ex-stars.

If they are faced with huge bills for trying to avoid paying tax in the way everyone who pays to watch them does, then they deserve the flak.

So certainly no sympathy for those caught out but equally culpable are the financial smart alecs who tell them everything is above board, knowing their clients have not got a clue.

If ever there was a group of people susceptible to dodgy advice, it is professional footballers.