Zeus Partners investigated in HMRC probe

A NORTH West business is in the midst of a HMRC investigation into tax schemes it sold to wealthy investors.

Zeus Partners, part of the Manchester-based Zeus Capital Group, structured investments in film production companies to more than 160 high net worth investors.

HM Revenue and Customs has launched an investigation in to one of its schemes.

A spokesman for Zeus Partners, which based at the company’s Ralli Court offices, said the business “categorically denies” any wrongdoing in the matter.

“Zeus Partners provided a number of high risk investment opportunities, backing highly successful entrepreneurs with a proven track record across a number of sectors.

“Individual investors had the option of claiming HMRC statutory relief in the event that the investments were unsuccessful. We are aware that there is an HMRC investigation into these and other investments underway at this time and Zeus Partners is providing its full co-operation to HMRC.

“As the investigation is on-going, it would be inappropriate for the company to comment further at this time. Zeus Partners categorically denies any wrongdoing and will assist HMRC with any enquiry or information if so requested.”

Zeus Capital Group is led by serial dealmaker Richard Hughes, while the Zeus Partners business is managed by Dominic Ryder.