Peter McGarvey, a financial adviser who recommended a film-financing scheme to wealthy clients, including television presenter Gary Lineker, died by suicide in September 2015 after reportedly becoming depressed when Her Majesty's Revenue & Customs (HMRC) branded the plan a tax-avoidance measure. McGarvey, who was understood to be a godfather to one of Lineker's sons, died in a Lima, Peru hotel.
An inquest at Nottingham Coroner's Court heard that McGarvey had asked neighbors to sign his will days before his death. The inquest also revealed that McGarvey had expressed concerns about the quality of advice he had provided to some clients in the past.
The scheme, promoted by Ingenious Media, involved clients investing more than £100,000 annually to fund films, with participants receiving substantial tax breaks on their incomes. Films such as "Avatar" and "Life Of Pi" were partially funded through Ingenious.
HMRC began scrutinizing such schemes in the early 2010s, leading to demands for repayment of millions in tax from celebrity investors, including Lineker. Dave Hartnett, then head of HMRC, described similar schemes as "scams for scumbags" in 2012.
Friends of McGarvey told The Mail on Sunday that he descended into depression after HMRC's stance, feeling that his professional reputation was being undermined and that he might appear fraudulent. McGarvey also advised other sports figures, including cricketer David Gower and athlete Paula Radcliffe, on investments in the scheme.
Lineker himself has faced scrutiny regarding his tax affairs. He was criticized for his participation in the Ingenious scheme, which also involved other prominent figures like Sir David Beckham and Ant and Dec. The Mail on Sunday previously reported that Lineker had appealed against a £4.93 million tax bill. He also recently co-authored an open letter with over 100 millionaires urging the government to increase taxes on the wealthy.