Rokos Challenges UK Tax Demand Over Decades Old Film Investments

Billionaire hedge fund manager Chris Rokos challenged the UK tax agency in court over demands he pay higher taxes following scrutiny over his loss making investments in film finance products.

The HM Revenue & Customs made enquiries into tax returns dating back as far as two decades, according to documents prepared for a court hearing. The probe was unlawful as the agency failed to properly notify the firms about the start of the probe into their tax assessments, his lawyers said at a Wednesday hearing in London.

Rokos asked a judge to strike out the changes to his tax returns ...