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Wayne Rooney faces £6m tax bill as film scheme busts

Wayne Rooney faces £6m tax bill as film scheme busts

Wayne Rooney is staring at a £6 million tax bill after a film tax scheme he invested in went bust. 

According to a Companies House announcement dated 11 September, the Invicta 43 scheme will be dissolved within the next two months. 

Rooney, who is currently living in the US following his transfer from Manchester United to Washington's DC United, is reported to have invested around £12.5 million in the partnership. 

According to the Mirror, which first reported the story, Rooney was one of 225 investors in Invicta 43, which grouped together to buy the rights to two Hollywood films, Fred Claus and 10,000 BC. 

A spokesperson for Rooney told the Mirror: 'Wayne has always paid all UK taxes in full and in accordance with the law of the time.'

'He has also complied, as have thousands of other taxpayers, when retrospective rulings have been applied by HMRC.' 

While HMRC would not comment on this specific case, a spokesperson for the tax office said: 'Tax avoidance doesn’t pay. Most schemes simply don’t work.' 

Miles Dean, managing partner at Milestone International Tax, said while Rooney probably did not appreciate what he was getting involved in, he has to accept his fate. 

'He [Dean] probably wasn’t made aware of the risks attached to the scheme or the likelihood of an HMRC enquiry, and his advisers probably received a significant non-refundable commission on his entering into the scheme.

'While Mr Rooney is right to be furious, the rich and famous can’t continue to bleat and not take responsibility for their actions, unless they’ve given carte blanche to their advisers. If something seems too good to be true, it probably is.' 

In August it was revealed that an unknown number of clients launched legal action against Canaccord Genuity for selling film partnerships between 2006 and 2009. 

It came after the wealth manager had been previously reported to be among a number of firms facing legal action after a crackdown on Invicta 43 in 2008. 

The Mirror previously reported in April that over 100 footballers, including Man United and Liverpool stars, could be looking at a tax bill of over £250 million for investing in film projects.

In 2015, investors including former Lazard International chairman Ken Costa and Investec’s Christian Hess launched proceedings against banks Coutts, HSBC and UBS in relation to film investment schemes run by Ingenious Media.

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