Ex-RBS bankers vehemently deny film fraud

Tuckers’ Partner Phil Smith is representing one of seven ex-RBS employees in connection with a film-production scheme which is alleged to have been used to avoid £2.5 million in tax.

Industry expert, Tessa Lorimer expressed some surprise at the approach taken by HMRC in the case.  Whilst acknowledging the fact that HMRC are targeting sophisticated investors, she pointed out that “the total amount [involved] is relatively small”.

Nevertheless, the alleged conspiracy is a high profile case in which HMRC have implicated bankers, IFAs, Investors and members of the film industry in respect of complex arrangements centering on sideways tax relief.

Phil Smith said his client “vehemently denies any wrongdoing and looks forward to the opportunity to clear his name in court.”