£100k invested in tax-dodging scheme

GARY Lineker was one of many celebrities and the super-rich to invest in a controversial film scheme that promised tempting tax breaks.

The former footballer was among a number of stars who put at least £100,000 each into movie financing plans run by a firm called Ingenious Media.

The schemes helped to produce films such as The Best Exotic Marigold Hotel, Life Of Pi and Avatar. Some 1, 00 investors were given tax relief on any losses the movies made under provisions designed to support the British film industry. But HMRC said such schemes were not legitimate investments.

Last month a tax tribunal upheld an earlier ruling that such incentives were ‘not allowable deductions’, leaving investors facing hefty bills. At the time Lineker faced online criticism for his involvement in the schemes.

In a series of tweets he said he was not involved in the attempt to overturn the ruling, adding: ‘Coughed up years ago sorry to disappoint. I happily pay all taxes due, in full and on time. Contrary to stories, I have no legal involvement in any related court case.’

Many of the celebrity investors – who also included Wayne Rooney, Bob Geldof, Davina McCall and Jeremy Paxman – claimed they had been poorly advised and had not understood how the schemes worked.