insolvency practitioners

Wave of UK celebrities face new tax bills after ‘tax avoidance’ firm shuts down

Following a major crackdown on Future Capital Partners, FCP, by HRMC, the company has currently gone into liquidation, and this has left thousands, including celebrities with huge tax bills to pay. FCP has been one of the most successful venture finance companies with more than 17 years of experience in venture financing, tax planning, and wealth management. On the 6th of April 2014, FCP had to change the kind of services they offered and the way they were being offered, due to new measures put in place by HRMC, which will be of interest to insolvency practitioners Manchester and others around the country who may need to help business hit by changing measures. Their primary focus and commitment at that time became to manage the portfolio of already existing investments. They ended up outsourcing all their operations to third-party companies. The company’s shutdown has left a lot of celebrities with huge losses, penalties, etc. For some individuals, this could mean bankruptcy. FCP was managing one of the largest tax avoidance schemes in the UK. In the past, it had attracted more than £ 7 billion in investments from celebrities and high profile individuals. FCP was also known for its numerous […]