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Government adviser involved in tax avoidance scheme

HM Revenue and Customs has invoiced a significant figure to a government adviser after it was found that he had invested funds in the contentious Ingenious Media scheme.

Anthony Odgers is the Shareholder Executive’s deputy chief executive representing the Department for Business, Innovation and Skills, which gives advice to government ministers on corporate finance.

Odgers has held the position for four years and was involved in the investment portfolio when appointed, but is no longer part of the scheme.

There are a hundreds of other key figures who have been implicated, including entertainers, business leaders, and sports stars who now all have to pay a £520 million tax bill with HMRC laying down the law on alleged avoidance schemes. Investors will have to pay the entire bill up front as HMRC looks into their financial agreements.

Ingenious Media denied any involvement with its game and film partnerships and tax avoidance, claiming that it is a legitimate operation that has made over £1 billion in taxable revenue.

A spokesperson for BIS told City AM:

“Anthony Odgers is no longer a partner. His investment pre-dated him joining government from Deutsche Bank and was fully disclosed to the tax authorities from the outset.”

Businesses of any size would be better advised to avoid such schemes, instead opting to call upon an accountant in the Wirral with a solid reputation – one with the ability to keep the books clean and their clients on the straight and narrow.

Posted by Mark
July 17, 2014
Tax

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