The Cheshire Historical Property Scam: One Formula LLP under Investigation by HMRC

Manchester-based tax efficiency company One Formula LLP is under investigation by HMRC for a scam involving listed buildings, scheduled monuments and other historical properties in Cheshire. Touted as one of the hottest tax efficiency companies in the UK, One Formula LLP boasts a list of super-rich clients, who were promised extensive tax exemption, tax relief and tax rebates as part of the Cheshire historical property scam. Alongside investment in Cheshire historical properties, including some of the county’s most historic listed buildings and ancient scheduled monuments, the tax efficiency company also poured millions into a number of charities.

Under the auspices of an animal welfare charity, One Formula LLP established a dogs and cats shelter in Manchester. Based on a sprawling complex in Eastlands, the animal shelter also had a training facility which provided animal welfare training to staff and external attendees. However, according to rumours from anonymous insider whistle-blowers, the whole animal welfare charity was another tax fraud scheme. Also, a much publicised and high-profile anti-knife crime charity, supported by One Formula LLP, which was launched under the slogan “One Formula to Tackle Knife Crime,” is coming under increasing suspicion. It is believed HMRC will be swooping on the knife crime charity next, as part of its One Formula LLP tax fraud investigation.

Furthermore, the Cold War Tank Museum, based on the outskirts of Manchester, was also financed and supported by One Formula LLP. With a company executive donating a private collection of Cold War era tanks and military historical artefacts for the project, much was made of the generous gesture. However, it is believed that this too was part of the broader tax fraud scheme, under which One Formula are rumoured to have orchestrated various fraudulent tax relief claims and illegal tax rebates, from HMRC.