HMRC wins £635 million for the public in landmark case against Eclipse 35 avoidance scheme
Following a lengthy legal battle, the highest court in the land, The Supreme Court, today ruled in favour of HM Revenue and Customs, refusing the Eclipse Film Partners (No 35) LLP, permission to appeal last year’s Court of Appeal decision, protecting an estimated £635 million in tax.
Eclipse claimed to trade in film rights but was in reality a tax avoidance scheme, seeking to create substantial