Partnership Incorporations (PI) has run into property problems and has been found to have incorrectly operated a tax relief scheme.
Partnership Incorporations has suffered what could be a multi-million pound hit after money set aside for a property scheme was withdrawn from a Swiss bank account without its permission. The tax relief issue relates to film schemes that were marketed as having tax benefits but Revenue & Customs decided these did not apply. Legal action is pending but has been put on hold while the film production company that administered the investment fights the decision. Scores of high-profile investors have become embroiled in PI.
08/04/12 Sunday Telegraph B3
