Ingenious vs HMRC is a tribunal case which will determine whether Ingenious’s film finance schemes, in which dozens of top business figures and celebrities put billions of pounds, were illegal or a legitimate investment scheme.
Mr Justice Henderson has said HMRC must give Ingenious details of any allegations of dishonesty it might make within two weeks. As per This is Money he noted that there had been ‘a recurrent theme of assurances’ given to the court by HMRC that it was not alleging fraud or dishonesty by Ingenious, though he said HMRC had given ‘the impression’ of ‘ambivalence, even at times evasiveness’ on this issue.
Tax does have to be taxing.
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