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Not really - HMRC are claiming that the company was run in a manner to reduce the tax liability of the investors rather than to either make a profit or provide investments for the film industry. In the same way that the Charity Commission will investigate a charity it believes is being run for...

The law hasn't been changed - HMRC's argument is that 'Inside Track' isn't a company set up to trade and invest in the film and games industry that would attract the various tax reliefs but was set up with the main purpose of allowing its investors to reduce their tax burden.