HMRC today (7 September) offered a settlement to members of the Eclipse film finance scheme in a move aimed at bringing closure to the long running and high contentious dispute. If accepted by each taxpayer, approximately £1.6bn of claimed "dry tax" will be dropped, which HMRC said was due from around 700 Eclipse members as a result of their participation in the Eclipse scheme. HMRC said it would contact members "with a settlement opportunity to resolve any Eclipse related tax issues". "We're offering a settlement opportunity, which will be open for acceptance for 6 months from the...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
