Ingenious Media
 | |
| Company type | Private |
|---|---|
| Industry | Investment |
| Genre | Investment and advisory group |
| Founded | 1998 |
| Founder | Patrick McKenna |
| Headquarters | London, W1 United Kingdom |
Key people | Patrick McKenna (CEO 1998–present) |
Number of employees | 80 |
| Website | www |
Ingenious Media (styled as INGENIθUS) is a division of London-based Ingenious Capital Management Limited, also known as Ingenious. The company was founded in 1998 by Patrick McKenna and is focused on media, real estate and infrastructure.[1]
In 2018, Ingenious Media partnered with Solstice Studios to produce and distribute theatrical feature films.[2]
Tax avoidance case
In July 2014, Ingenious Media was investigated by HMRC for promoting tax avoidance schemes.[3][4] In October 2014, HMRC sent "accelerated payment notices" to people who had invested with Ingenious Media, demanding payment of substantial amounts of tax.[5] The tax bill following his investment in the scheme was cited in the subsequent bankruptcy hearings of the former Liverpool and Republic of Ireland footballer, Steve Staunton.[6] In 2018, a group of more than 500 investors launched a civil case against Ingenious for making false representations[7] which Ingenious had always denied. Ingenious (specifically Ingenious Games LLP, Inside Track Productions LLP and Ingenious Film Partners 2 LLP) lost their appeal against HMRC's initial ruling in June 2019, with the Upper Tribunal ruling that "None of the LLPs were carrying on a trade. None of the LLPs were carrying on a trade with a view to profit."[8]
However, in August 2021 the Court of Appeal overturned the ruling of the Upper Tribunal in respect of Inside Track Productions LLP and Ingenious Film Partners 2 LLP on both the trading and with a view to profit issues.[9]
References
- ^ "Our story". Ingenious. Retrieved 3 November 2024.
- ^ D'Alessandro, Anthony (2 October 2018). "Mark Gill, Andrew Gunn, Guy Botham & Vincent Bruzzese Launch Solstice Studios; Teams With Ingenious Media On Theatrical Releases". Deadline. Retrieved 20 November 2018.
- ^ "HMRC publishes list of suspect tax avoidance schemes". BBC. 15 July 2014. Retrieved 9 October 2014.
- ^ Garside, Juliette (19 October 2016). "Taxpayer faces huge bill after Ingenious Media wins case against HMRC". The Guardian. Retrieved 3 July 2021.
- ^ http://www.ft.com/cms/s/0/e1d16a40-4a49-11e4-bc07-00144feab7de.html#axzz3FdZXAZp9 (Retrieved 9 October 2014)
- ^ "Former Ireland star Steve Staunton files for bankruptcy". The Irish Times. 28 November 2016. Retrieved 3 July 2021.
- ^ "Sorry, we can't find that page".
- ^ Civil case filing, Bailii.org
- ^ "Ingenious Games LLP & ors -v- The Commissioners for Her Majesty's Revenue and Customs". 4 August 2021.