The Financial Services Compensation Scheme (FSCS) has said the 150 claims it is investigating against poor advice to invest in apparently tax efficient schemes relate to business written in the decade from 2000.
The FSCS said on 10 September it is looking into individual claims in relation to advice given by authorised advisers to invest in film partnerships and environmental plans. The service had sought legal advice on whether it could investigate the claims due to the complex nature of tax advice, and was given the go-ahead. It later specified the claims were first brought in 2013 and covered advice given by about 50 "departed" advisers between 2000 and 2010. The service said the claims span advice to invest in about 80 different tax schemes. It could not yet say what the total value...
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