Regulation 

Adviser charged over £2.5m partnerships tax fraud

The Crown Prosecution Service has charged 13 individuals over a £2.5m tax fraud involving partnerships set up to deal in film development, including one adviser firm director.

In a statement published yesterday (30 January), the CPS said 13 people were due to appear before the City of London Magistrates Court later that day, all of which were to be charged.

The charges will relate to two partnerships - Edinburgh & Walsh LLP and Jenkins & Hyde & Maclellan LLP - set up to deal in film development and allegedly to cheat the government out of millions of pounds.

Andrew Penhale, deputy head of fraud at the CPS, said the charges were “in connection with allegations that they conspired to cheat the revenue out of £2.5m of tax, via a complex film scheme designed for that purpose.”

Neil Williams-Denton was one of those charged and is listed on the FCA register as holding the CF1 Director position at Chartered advice firm Greystone Financial Services Limited. He was to be charged with two counts of conspiracy to cheat the Revenue, relating to both partnerships.

Six other defendants are listed on the register as inactive, three of which previously worked at Royal Bank of Scotland. All were charged with one count of conspiracy to cheat the revenue.

Martin Taylor, head of client relations at Rebus Group, said: “Today’s charges will have both shocked and caused concern for those people who have invested in film schemes in good faith. The group of people facing the charges includes not only the investors in the structure, but various financial advisers, as well as the scheme promoter.”

*This article has been amended since its original publication to correct inaccuracy.