Ingenious Media
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|
 | |
| 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[when?] |
| 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
[edit | edit source]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][8] 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."[9]
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.[10]
References
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- ^ https://www.ft.com/content/e1d16a40-4a49-11e4-bc07-00144feab7de (Retrieved 9 October 2014)
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Civil case filing, Bailii.org
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
External links
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