Plebgate MP caught up in avoidance tangle

Somehow I’m really not surprised the Tory MP at the centre of ‘Plebgate’ was involved in illegal tax avoidance. They’re nearly all into it. The only difference here is that in the case of Ingenious Film Partners 2 it’s been declared illegal.
A friend of mine told me a little while about some of the British films produced through schemes like this. As the primary purpose was to avoid tax, rather than make a movie, many of these films were never released. When they were, it was in some of the more exotic parts of the world. One of the films so made was about a couple of blokes, who teach a lobster to kickbox. I have absolutely no idea what chemicals they were on when they dreamed up that idea for a movie either. It was only released in Japan, where it spawned an entire genre of movies about people teaching crustaceans to play sports. Yes, 95% of everything weird comes from Japan, but sometimes it’s inspired by us Brits.

The lovely wibbly wobbly old lady

Reposted from Accountingweb

Former cabinet minister Andrew Mitchell, who resigned over the Plebgate scandal back in 2012, invested in a film investment scheme that the government has now declared as inappropriate tax avoidance.

The Ingenious Film Partners 2 vehicle backed big films like Avatar, Girl with a Pearl Earring and Shaun of the Dead, and its promoters say it encouraged genuine investment in British film.

As reported by BBC Newsnight last night, HMRC deemed the tax relief provided by the company as “inappropriate”, meaning investors like Mitchell could end up having to pay back hefty sums after Royal Assent is passed in the coming days.

Earlier this week HMRC named Ingenious Film Partners 2 as one of 1,200 candidates for accelerated payment notices under its new powers to force repayment of tax relief up front, rather than waiting for the outcome of a tax tribunal.

Later this month people using…

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One Response to “Plebgate MP caught up in avoidance tangle”

  1. thelovelywibblywobblyoldlady Says:

    Lovely story about the kickboxing lobster Beast! I know of quite a few MPs I’d like to kickbox…

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