Tax: Five To Be Charged Over '£125m Fraud'

Five people are to be charged in connection with a film industry-based tax relief fraud that allegedly cost the public revenue around £125m, the Crown Prosecution Service says.

The CPS confirmed the charges follow an investigation by HM Revenue and Customs (HMRC).

CPS deputy head of fraud Andrew Penhale said: "It is alleged that, between 1 January 2002 and 11 July 2011, a tax relief that allows investors in the British film industry to offset losses against other tax liabilities was abused and dishonestly marketed in order to cheat the public revenue.

"The evidence suggests that the value of allowable losses was falsified, that there was a conspiracy to defraud investors and that documents were falsified for accounting purposes."

"Keith Hayley, Robert Bevan, Charles Savill, Cyril Megret and Norman Leighton will each face three charges: conspiracy to cheat the public revenue, conspiracy to defraud and conspiracy to falsify documents.

The CPS said the charges are contrary to section 1(1) of the Criminal Law Act 1977, section 17 of the Theft Act 1968 and Common Law.

Mr Penhale added: "This decision to prosecute was taken in accordance with the Code for Crown Prosecutors.

"We have determined that there is a realistic prospect of conviction and that a prosecution is in the public interest.

The CPS said all five defendants are due to appear before Birmingham Magistrates' Court on June 18.

"Hayley, Bevan, Savill, Megret and Leighton are now the subject of criminal proceedings and have the right to a fair trial," Mr Penhale said.

He added: "It is extremely important that nothing should be reported which could in any way prejudice these proceedings."

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