Celebrities lured into huge tax avoidance scheme

In a This is Money article, Edwin Coe Senior Partner, David Greene comments on investors signing up because Disney was attached.

Entertainment giant Disney played an ‘essential part’ in luring footballers and celebrities into a major tax avoidance scheme and could be dragged into a £300million lawsuit, say lawyers representing the investors.

Prospective investors in the Eclipse scheme were told they could reap the profits of Disney films and were given glossy brochures, DVDs, memorabilia and promises of invitations to red carpet premieres, it is alleged.

Law firm Edwin Coe, representing 400 of the 780 investors, has already sent ‘letters before action’ to the banks involved – HSBC, Barclays and Bank of Ireland – over their roles in the scheme.

To read the full article, please click here.

*Update (10/03/2019) – BIG banks including HSBC, Barclays and Bank of Ireland could face a bill of up to £11billion for their roles in tax avoidance schemes used by wealthy celebrities. The Mail on Sunday can reveal more.

*Update (08/04/2019) – Santander dragged into scandal over alleged film-based tax dodging scheme used by celebs. The Mail on Sunday can reveal more.