Australian footballer Tim Cahill has been "linked to an investigation by British authorities into a tax avoidance scheme," according to Daniel Beizsley of THE AGE. Thousands of "wealthy investors have begun to receive accelerated payment notices from the tax authorities in a government bid to recoup tax revenue it now claims was unfairly avoided." Cahill reportedly became a director of Phoenix Film Partners in '08. The fund, "alongside a raft of others," was set up by Ingenious Media in '03 to "take advantage of tax breaks designed to offer incentives to individuals investing in the British film industry." While there is "no suggestion that the investors acted illegally, the British Government is now moving to reclaim the taxes after declaring the investment initiatives as unfair avoidance schemes." Phoenix Film Partners is one of more than 1,000 such schemes. The company behind Phoenix Film Partners, Ingenious Media, has "already been hit with a string of revelations" connecting some of the U.K.'s "top sports stars" such as David Beckham and current England captain Steven Gerrard to its initiatives. The "celebrities could end up paying back" as much as £1B ($1.6B) to the Treasury. Investors will have 90 days to "repay the tax which, for some, will result in unexpected bills of millions of pounds and could lead to bankruptcies." They will "not face criminal charges." Ingenious Media has written to its investors "informing them of the situation and the likelihood of a payment." Ingenious CEO Patrick McKenna has "robustly defended the schemes, pointing
to the money channelled into the film industry as a result of the schemes" (THE AGE, 10/7).
