Top Tax QCs OK With Disallowed Film Schemes, UBS Says

By Christopher Crosby (January 5, 2022, 5:17 PM GMT) -- Swiss banking giant UBS has fought back against a group of investors suing over its alleged role in a failed film tax relief scheme, telling a London judge that it verified the plans before selling the investments to rich clients.

The private investment bank said in a Dec. 23 update to its High Court legal defense that top-level tax lawyers and accountants had looked over the tax relief schemes operated by Ingenious Media before they were sold on to high-net-worth investors.

The investors are suing the Ingenious Group of companies, its directors and the professional agents and financial advisers who sold,...

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